Nahl Share Discussion Threads

[aleman] 03/2/2020 08:04

Profit warning seems already priced in. Forecast was for 15.7p so now maybe 14.5p. Cutting dividend altogether seems harsh. However, next year is unclear. It sounds like forecasts will drop a lot from 17.5p.

[fenners66] 03/2/2020 07:11

How many profit warnings is that now ?

[someuwin] 03/2/2020 07:08

"...However, in order to de-risk the Group in the light of market circumstances, the Board has decided to slow the deployment of working capital in the PI business and to suspend the Company's dividend. Consequently, the Board's outlook for 2020 performance is now significantly lower than previous expectations."

[mnomis] 23/12/2019 17:39

I might buy back around there too ...

[keith95] 23/12/2019 15:05

Google:

Accident lawyers

NAH comes up third a lot of competition in the sector IMO.

I'll wait for 73p again like earlier this year.

[basem1] 23/12/2019 14:51

Lots of stray bullets around at present you dodge some and get hit by others. I only bought back in here last week !!

[mnomis] 23/12/2019 14:45

5 to 10% lower excl. the provision on a nice announcement on 23rd December when everyone away from desks ... I have sold today.

[cfro] 23/12/2019 09:09

The market makers, as they usually do, taking the mickey out of PI's. The company have said that profits will be between 5 and 10% lower which probably means somewhere in between - share price currently down over 13%..

[someuwin] 23/12/2019 07:49

finnCap...

"NAHL (NAH): Corp PI marginally ahead, Property behind

NAHL has confirmed that its first and largest ABS continues to perform well, early results from its new, wholly owned ABS are encouraging, and Critical Care is on target. PI, overall, has traded marginally ahead of expectations in 2019. However, the performance of the second, smallest ABS has been disappointing, management stopped putting volumes through this ABS at the beginning of 2019 and an agreement has been reached to terminate it. NAHL will receive £5m of outstanding debts from the partner (which will benefit our cash flow forecasts over the next three years) and write off the remaining £1.2m owed, avoiding the prospect of complex and time-consuming litigation. Also, Residential Property is now expected to make a modest loss in 2019 (we had forecast £0.7m profit) due to a further deterioration in market conditions. We will reassess our forecasts with the January trading statement but note management’s comment that FY 2019E underlying earnings are now anticipated to be 5-10% below expectations. Despite this, net debt is expected to be broadly in line with plan. Overall, we highlight that the Critical Care business that largely supports the current valuation is on track and the PI business is very well placed, once the reforms are in place, to generate significant additional value from an improved offering and market position."

[bc4] 18/12/2019 14:28

Well they must have plenty of work coming in, Trading update next month

[someuwin] 18/12/2019 13:43

...Cheers dan - good find.

[danieldruff2] 18/12/2019 13:33

Expansion in 2020, sounds good:

[someuwin] 13/12/2019 09:18

Election result very positive for all three prongs of NAH's business model.

[someuwin] 09/12/2019 14:34

What many people are missing is that even ignoring the Personal Injury division and the Residential Property division, the share price is justified by the Critical Care division.

Critical Care division alone has sales 13.7m (up 10.4%) and EBIT of 5.0m (up 12.6%).

Put that on a X 10 and you have 50.4m of value. Almost the full market cap here.

(figures taken from finnCap)

[someuwin] 09/12/2019 14:13

A good few buys today.

[someuwin] 05/12/2019 14:36

Header updated:

Next event...January 2020 - Pre close trading update

[bc4] 22/11/2019 15:57

Looks like things could be moving

[someuwin] 29/10/2019 13:06

Dividend pay day on Thursday.

[someuwin] 26/9/2019 08:26

Ex dividend date.

[someuwin] 17/9/2019 12:28

Tuesday September 17 2019

AIM-listed NAHL Group confirms joint venture with Manchester-based HCC Solicitors

Award-winning serious injury law firm Horwich Cohen Coghlan (HCC) Solicitors has teamed up with NAHL Group to launch a new joint venture called Law Together which starts trading early next month.

NAHL Group, the owner of National Accident Helpline, has announced plans for a new joint venture with Manchester-based law firm Horwich Cohen Coghlan (HCC) Solicitors.

The new Alternative Business Structure (ABS) will be named Law Together and will be based at HCC’s offices in Castlefield, Manchester.

Law Together will start trading in early October 2019.

Award-winning law firm HCC Solicitors specialises in helping seriously injured and traumatised clients get recompense for long-term rehabilitation and treatment.

The firm employs more than 250 people in Manchester and recently launched a new office in Birmingham headed up by experienced serious injury lawyer Joe Speed.

Adam Nabozny, Managing Director of Legal Services at NAHL Group, said:

“Establishing joint venture ABS businesses with partners which complement our Panel and our own law firm is central to our long-term strategy. The next phase of this will be the launch of Law Together.

“HCC Solicitors is a well-respected leading law firm with a proven track record in handling personal injury and major trauma cases, and its team have considerable experience of working in partnership to run a successful ABS.

“Our ABS strategy enables us to respond to the government reforms and to identify new opportunities by challenging market norms.”

David Horwich, Director of HCC Solicitors, said:

“National Accident Helpline is a brand which has achieved longevity and trust within the personal injury market, and we are pleased to be teaming up with NAHL Group for this joint venture.

“Both partners will bring more than 25 years of insight and expertise to the partnership. Our specialist teams are experts in handling personal injury, major trauma and serious injury claims, while NAHL Group is a market leader in lead generation and customer service."

[someuwin] 17/9/2019 07:46

More from finnCap...

"180p target based on free cash flow. We have rerun our sum of the parts model based on 2019E (previously 2018) and continue to conclude that the current share price is largely supported by the Critical Care business. Assuming 10x EBIT for Critical Care, the PI business is valued at only 2.3x 2019E EBIT. Our 180p target assumes a 6% FCF yield in 2020 (or 6x 2020E group EBIT), the first year the new platform starts to really deliver with FCF turning positive."

[cfro] 17/9/2019 07:16

Happy with those results. With exception to the residential property division, the rest of the group looks to be in recovery mode.

The slight cut in the divi was a little disappointing, but we knew it was coming and the other positive is that we dont have to wait long to receive it - ex-div is in a few days time with payment on Oct 31st.

[someuwin] 17/9/2019 07:15

finnCap...

NAHL (NAH): Corp

"Transformation on track

NAHL’s H1 results show that its strategic transformation in the personal injury market from a marketing business to a full legal services provider is on track and yielding positive results. Since inception, the Legal Services business has won 4,910 cases with £19m of damages, and now has 12,097 cases ongoing. We make no changes to our forecasts and reiterate our view that as the return from the new model drives increasing free cash flow, we see significant share price upside, with downside risk protected by the value of the growing Critical Care business."