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NAHL Group PLC - Northamptonshire, England-based claims management firm - Expects 2023 revenue to rise 2.7% to GBP42.2 million from GBP41.1 million a year before. Operating profit for the full-year is expected to be slightly ahead of market expectations, at GBP4.1 million. This would be a 15% drop from GBP4.8 million in 2022. Says 2023 pretax profit is expected to be flat year-on-year at GBP600,000, and in line with market consensus.
Chief Executive Officer James Saralis says: "Whilst the personal injury market remained subdued, we have successfully completed our transformation into an integrated law firm with improved cash generation and National Accident Law increased cash from settlements by 73% to GBP6.0 million. Critical Care has delivered a strong financial and operational performance and there is an exciting opportunity to deliver further market share growth.
"The group continued to generate high levels of cash and this led to a 27% reduction in net debt to GBP9.7 million, which was well ahead of market expectations. The steps we have taken in recent years to enhance the group have borne fruit, and Nahl ended its financial year in a robust position with cause to be optimistic for the future."
Current stock price: 65.48 pence, up 8.2%
12-month change: up 84%
By Sabrina Penty, Alliance News reporter
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