Last checked at 20 Jan 2015 07:00
20 January 2015
NAHL Group PLC
("NAHL" or the "Group")
Trading Update
NAHL, the leading UK consumer marketing business focused on the Personal Injury market, operating under the National Accident Helpline brand, is today providing a trading update for the year ended 31 December 2014.
As highlighted at the interim results, the Group has continued to trade well during the second half and is expected to deliver strong underlying operating profits(1) for the year slightly ahead of current market expectations.
Revenue from continuing operations(2) for the full year is up 10.4% to £43.8m. This reflects robust enquiry growth of 15.3% as we continue to gain market share in the higher value sectors of non-RTA and medical negligence.
Cash flow has continued to be strong with the Group ending the year with net cash(3) of £1.2m, an increase of £3.2m from the first half. The maiden interim dividend of 5.0p was paid on 31 October 2014 and the Group will announce a final proposed dividend in its forthcoming results announcement which will be paid in May 2015.
NAHL will announce its results for the year ended 31 December 2014 on 24 March 2015.
Russell Atkinson, CEO of NAHL, commented:
"Trading in our first financial year as a quoted company has been very encouraging. Our enquiry growth reflects our strategy of gaining market share and we continue to focus our efforts on the higher value non-RTA and medical negligence sectors."
(1) | Underlying operating profits excludes pre-LASPO ATE items, share based payments and one off items |
(2) | Continuing operations excludes the demerged PPI Claimline division and a legacy "after the event" (ATE) insurance product used prior to the enactment of The Legal Aid, Sentencing and Punishment of Offenders Act 2012 ("LASPO") on 1st April 2013 |
(3) | Net cash comprises cash and cash equivalents, other interest bearing loans and borrowings and other payables relating to pre-LASPO ATE product |
For further information please call:
NAHL Group PLC | via FTI Consulting |
Russell Atkinson (CEO) | Tel: +44 (0) 20 3727 1000 |
Steve Dolton (CFO) |
Execution Noble & Co Limited, trading as Espirito Santo Investment Bank (NOMAD & Joint Broker) | Tel: +44 (0) 20 7456 9191 |
John Llewellyn-Lloyd Harry Stockdale |
Investec (Joint Broker) | Tel: +44 (0) 20 7597 5970 |
Garry Levin David Flin James Ireland |
FTI Consulting (Financial PR) | Tel: +44 (0) 20 3727 1000 |
Oliver Winters | |
Alex Beagley James Styles |
Notes to Editors
NAHL Group
NAHL is a leading UK consumer marketing business focused on the UK personal injury market, advertising through its core brand - National Accident Helpline. Having been established in 1993, the Group's business has grown to become the largest outsourced marketing services provider to the personal injury market - a market which is valued at approximately £3 billion in fees generated mainly by law firms. NAHL's core business model is based on enquiry origination through direct response marketing, connecting claimants who have been injured in non-fault accidents with specialist law firms.
More information is available at www.nahlgroupplc.co.uk and www.national-accident-helpline.co.uk