Last checked at 15 Jun 2022 07:00
15 June 2022
NAHL Group PLC
("NAHL" or the "Group")
AGM Statement
James Saralis, CEO of NAHL (AIM: NAH), the leading UK marketing and services business focused on the UK consumer legal market, will make the following statement at the Group's Annual General Meeting ("AGM") being held at 10 a.m. today:
"Since the publication of the 2021 Final Results on 29 March 2022, the Group has continued to perform in line with market expectations.
"In the first five months of the year (the "Period"), the Group's Consumer Legal Services division generated 34% more personal injury enquiries than the equivalent period last year, in a claims market that remains subdued following the impact of the COVID-19 pandemic and the introduction of the Civil Liability Act reforms last year. In line with its strategy, the Group continued to grow and invest in its fully integrated law firm, National Accident Law ("NAL"). 26% of total enquiries were distributed to NAL in the Period, representing an increase in the number of enquiries allocated to NAL of 95% compared to the equivalent period last year. In addition to growing the value of its book of ongoing claims, NAL also collected 21% more cash from settlements in the Period, compared to the prior year. Earlier this month, National Accident Helpline launched a new TV advertising campaign intended to further strengthen its brand position and contribute to volume growth.
"In the Critical Care division, Bush & Co. has made encouraging progress following the effects of the pandemic. The number of initial needs assessments ("INAs") completed and expert witness reports issued to customers in the Period increased by 10% and 9% respectively, compared to last year and the number of instructions for INAs and expert witness reports was up 20% and 13% respectively. The Board is pleased to report that investment in marketing and business development continues to deliver a strong pipeline of work.
"Overall, the Board's expectation for the full year remains unchanged and the Group will provide a trading update for the six months to 30 June 2022 on 1 August 2022."
For further information please call:
NAHL Group PLC James Saralis (CEO) Chris Higham (CFO) |
via FTI Consulting Tel: +44 (0) 20 3727 1000 |
Allenby Capital (Nomad & Broker) Jeremy Porter/Liz Kirchner/Vivek Bhardwaj (Corporate Finance) Amrit Nahal (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 Homeward Legal; and claims processing and conveyancing services to individuals through Your Law, Law Together and National Accident 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.