REG - NAHL Group PLC - Half Year Trading Update

NAHLAnnouncement

08/08/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240808:nRSH6338Za&default-theme=true

RNS Number : 6338Z  NAHL Group PLC  08 August 2024

Prior to publication, the information contained within this announcement was
deemed by the Group to constitute inside information for the purposes of the
UK Market Abuse Regulations.

 

8 August 2024

NAHL Group PLC

("NAHL", the "Company" or the "Group")

 

Half Year Trading Update

 

NAHL (AIM: NAH), a leading marketing and services business focused on the UK
consumer legal market, is pleased to provide a trading update for the first
half of its current financial year, covering the six months to 30 June 2024
(the "Period").

 

Since the AGM Statement and Trading Update on 27 June 2024 (the "Statement"),
the Group has traded in line with the Board's expectations.  Revenues for the
Period are expected to be £19.4m, (H1 2023: £21.0m) while operating profit
is expected to be broadly in line with last year.  The Group has made further
progress in reducing net debt and at 30 June 2024, net debt had decreased 7%
to £9.0m (31 December 2023: £9.7m).

 

In the Group's Consumer Legal Services division, the actions that management
have taken to address the challenges in lead generation in National Accident
Helpline (NAH), as detailed in the Statement, have resulted in a material
reduction in average enquiry acquisition cost towards normalised levels
alongside a modest growth in volumes. The Board continues to believe that
these headwinds are short-term in nature.

 

In Critical Care, Bush & Co. traded well during the Period and delivered
double-digit growth in revenue and profit.  The Board is continuing to
explore a potential sale of the business and is pleased to report strong
levels of interest from a wide variety of potential buyers.  The Board will
update shareholders on progress as appropriate.

 

Trading through July has continued to plan and as a result, the Board remains
confident of delivering a full year outturn in line with market expectations.

 

NAHL expects to announce its results for the six months ended 30 June 2024 in
late September 2024.

 

 

For further information:

 

 NAHL Group PLC                                                 via FTI Consulting

 James Saralis (CEO)                                            Tel: +44 (0) 20 3727 1000

 Chris Higham (CFO)

 Allenby Capital (AIM Nominated Nomad & Broker)                 Tel: +44 (0) 207 220 0500

 Jeremy Porter/Liz Kirchner (Corporate Finance)

 Amrit Nahal/Stefano Aquilino (Sales & Corporate Broking)

 FTI Consulting (Financial PR)                                  Tel: +44 (0) 20 3727 1000

 Alex Beagley

 Amy Goldup

 

Notes to Editors

 

NAHL Group plc (AIM: NAH) is a leader in the Consumer Legal Services market.
The Group provides services and products to individuals and businesses through
its two divisions:

 

· Consumer Legal Services provides outsourced marketing services to law firms
through National Accident Helpline and claims processing services to
individuals through National Accident Law, Law Together and Your Law.  In
addition, it also provides property searches through Searches UK.

· Critical Care provides a range of specialist services in the catastrophic
and serious injury market to both claimants and defendants through Bush &
Co.

 

More information is available at www.nahlgroupplc.co.uk
(http://www.nahlgroupplc.co.uk/) , www.national-accident-helpline.co.uk
(http://www.national-accident-helpline.co.uk/) ,
www.national-accident-law.co.uk (http://www.national-accident-law.co.uk/) and
www.bushco.co.uk (http://www.bushco.co.uk/) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTUPURARUPCGBM