Last checked at 25 May 2023 07:00
25 May 2023
NAHL Group PLC
("NAHL" or the "Group")
AGM Statement
James Saralis, CEO of NAHL (AIM: NAH), a leading marketing and services business focused on the UK consumer legal market, will make the following statement at the Group's Annual General Meeting being held at 10 a.m. today:
"Since the publication of the 2022 Final Results on 22 March 2023, the Group has continued to make progress in scaling both of its divisions.
"In Consumer Legal Services, the number of personal injury enquiries generated in the first four months of the year (the "Period") was consistent with last year (excluding tariff-only road traffic accident ("RTA") claims, which we ceased processing in February 2022) and the Group's market-leading brand, National Accident Helpline, delivered a good performance in organic search. The business saw higher than expected supply of RTA enquiries in the Period, which may be due to recent consolidation in the industry, which has resulted in the division placing increased levels of RTA work into its wholly-owned law firm, National Accident Law ("NAL"). The Group will continue to utilise its agile placement model to manage volumes.
"The Group continues to make progress in scaling NAL and placed 8% more enquiries into NAL in the Period. Cash received from settled claims in NAL increased by 108%.
"In Critical Care, Bush & Co. has grown both Case Management and Expert Witness services, and
issued 25% more Expert Witness reports in the Period than the same period last year. As a result of its marketing and business development activities, the pipeline of work for Bush & Co. remains strong for the remainder of the year.
"Finally, in April and as previously announced, the Group completed the sale of its conveyancing business, Homeward Legal. The subsidiary was considered non-core to the Group's principal focus in Consumer Legal Services and Critical Care and its sale will allow us to further focus on delivering value in these key areas.
"The Board's expectations for the full year remain unchanged and we look forward to providing a trading update later in the year on the half year results."
For further information:
NAHL Group PLC James Saralis (CEO) Chris Higham (CFO)
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
Allenby Capital (AIM Nominated Adviser & Broker) Jeremy Porter/Vivek Bhardwaj (Corporate Finance) Amrit Nahal/Stefano Aquilino (Sales & Corporate Broking)
| Tel: +44 (0) 20 3328 5656 |
FTI Consulting (Financial PR) Alex Beagley Sam Macpherson Amy Goldup | Tel: +44 (0) 20 3727 1000 NAHL@fticonsulting.com |
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 in the 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, www.national-accident-helpline.co.uk, www.national-accident-law.co.uk and www.bushco.co.uk.