NAHL Group: Trading Update
NAHL, the leading marketing and services business focused on the UK consumer legal market, is today providing a trading update for the first half of its current financial year, covering the six months to 30 June 2017.
The Group has continued to trade in line with the Board’s expectations. Whilst the effect of previously announced investments into our personal injury business has, as expected, impacted comparative results, the Group is performing robustly and as planned.
National Accident Helpline (NAH), the Group’s Personal Injury division, continues to make good progress in dealing with enquiries through alternative commercial and structural arrangements, and concluded its first Alternative Business Structure (ABS) during the period with NewLaw. The ABS not only provides the Group with ownership interest in a company providing legal services but also enables NAH to participate in that venture and take a share of profit from work processed by the ABS.
Reflecting our drive to grow market share through increased enquiry volumes, we relaunched the NAH brand in June 2017, under the theme “If it feels wrong, we can help make it right”. This will be supported by six new television adverts, alongside an extensive digital and social media campaign allowing consumers to interact directly with NAH online.
The Government’s planned legislation around small claims and whiplash is now to be enacted as part of the new Civil Liability Bill announced in the Queens’ speech in June 2017. Specific details of this bill are yet to be published, but it is possible that there may be delays to the original anticipated implementation date of October 2018. We are confident that any delay to implementation will have no significant impact on our expectations for the Group.
Our Critical Care division, Bush & Company, has again performed strongly, showing year on year growth and contributing positively to the Group’s overall performance as a result of our continued focus on business development and quality of care.
Our Residential Property division, Fitzalan, has also shown growth, against a backdrop of challenging market conditions.
NAHL will announce its results for the six months ended 30 June 2017 on 19 September 2017.
Russell Atkinson, CEO of NAHL, commented:
“I am pleased with the Group’s overall performance in the first half of the year, which is in line with the Board’s expectations. NAHL has continued its evolution into a broader, more diversified business, operating across aligned legal services and this has positioned the Group well against the changing regulatory backdrop.
“The establishment of an ABS with NewLaw will help advance NAH’s business model and ensures it is well positioned as the Government’s regulatory changes unfold.”
“Both our Critical Care and Residential Property divisions have continued to make positive contributions to the Group’s performance in the first half and we remain on track to meet expectations for the full year.”