Last checked at 15 Jul 2015 07:00
15 July 2015
NAHL Group plc
("NAHL" or "the Company")
Pre Close Trading Update
NAHL, a leading UK consumer marketing business focused on the UK legal services market, is today providing a trading update for the first half of its current financial year, covering the six months to 30 June 2015.
NAHL has continued to trade well. National Accident Helpline, the Company's personal injury business, has performed in line with the Board's expectations, whilst Fitzalan Partners, our recently acquired conveyancing business, has contributed well and is ahead of plan.
Cash flow and cash conversion across the Company has been strong and we end the first half with net debt of £1.2m, having acquired Fitzalan Partners for a cash consideration in the six months of £3.5m (out of a total acquisition price of £4.3m).
The Company will announce its results for the six months ended 30 June 2015 on 23 September 2015.
Russell Atkinson, CEO of NAHL, commented:
"Trading in the first half has been good. The personal injury market continues to evolve and consolidate, creating opportunities to gain market share and evaluate our options to further develop long term relationships with our panel of law firms.
"Fitzalan Partners has performed well since we acquired it in February 2015 and we are ahead on all of our KPIs. We are investing in people, brand and infrastructure and are confident that we will see an increasing contribution from the conveyancing business.
"The Board remains confident for the outlook for 2015."
-Ends-
For further information please call:
NAHL Group PLC Russell Atkinson (CEO) Steve Dolton (CFO)
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
Investec Bank plc Garry Levin David Flin James Ireland David Anderson
| Tel: +44 (0) 20 7597 5970 |
FTI Consulting (Financial PR) Oliver Winters Alex Beagley James Styles | Tel: +44 (0) 20 3727 1000 |
Notes to Editors
NAHL Group
NAHL is a leading UK consumer marketing business focused on the UK legal services market. The core brand - National Accident Helpline ("NAH") was established in 1993 and since then the Group's business has grown to an industry leading position as an outsourced marketing services provider. As the nation's most searched for and trusted personal injury brand NAH, supported by its Underdog character, attracts around 240,000 consumer contacts per annum. The acquisition of Fitzalan Partners allows the Group to extend its reach into the conveyancing market using its skill set from its NAH business.
More information is available at www.nahlgroupplc.co.uk and www.national-accident-helpline.co.uk.