Share Name Share Symbol Market Type Share ISIN Share Description
Nahl Group Plc LSE:NAH London Ordinary Share GB00BM7S2W63 ORD GBP0.0025
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 59.60 60.00 61.80 60.00 59.60 60.00 58,393 13:07:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 49.0 9.8 14.5 4.1 28

NAHL Group PLC ABS and Trading Update

23/12/2019 7:00am

UK Regulatory (RNS & others)


Nahl (LSE:NAH)
Historical Stock Chart

2 Months : From Dec 2019 to Feb 2020

Click Here for more Nahl Charts.

TIDMNAH

RNS Number : 7439X

NAHL Group PLC

23 December 2019

This announcement is deemed to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014

23 December 2019

NAHL Group PLC

("NAHL" or the "Group")

ABS and Trading Update

NAHL (AIM: NAH), the leading UK consumer marketing and services business focused on the UK legal services market, today provides an update regarding its second joint venture ABS, National Law Associates LLP, trading as National Law Partners ("NLP") and an update on trading for the year ending 31 December 2019.

ABS Update

The Board is pleased with continued progress and delivery from the Group's ABS strategy. The first and largest ABS, Your Law LLP, continues to perform well and management are encouraged by the early results from its wholly owned ABS, National Accident Law.

Termination of Partnership

The Group has today reached an agreement to terminate its relationship in respect of NLP, with effect from 2 January 2020.

As part of this agreement the Group will receive GBP5m over the next three years in payment for historic panel enquiries while registering a one-off provision amounting to GBP1.16m in the current financial year. This settlement avoids a protracted dispute and the prospect of complex and time-consuming litigation between the parties.

Trading Update

Underlying trading in the Personal Injury division is expected to perform marginally ahead of Board expectations and Critical Care remains on target. However, in the second half of 2019, the residential property market has deteriorated further and we now expect the division to make a modest loss in 2019. As a result, excluding the aforementioned provision, underlying earnings* for the year are now anticipated to be between 5% and 10% below Board expectations. Despite this, the Group anticipates full year net debt to be broadly in line with plan.

* Underlying earnings is based on profit attributable to shareholders of NAHL (i.e. excluding profits attributable to non-controlling interests) before the deduction of non-underlying costs.

For further information please call:

 
NAHL Group plc                             via FTI Consulting 
 Russell Atkinson (CEO)                     Tel: +44 (0) 20 3727 
 James Saralis (CFO)                        1000 
finnCap Ltd (NOMAD & Broker)               Tel: +44 (0) 20 7220 
 Julian Blunt / James Thompson (Corporate   0500 
 Finance) 
 Andrew Burdis (Corporate Broking) 
FTI Consulting (Financial PR)              Tel: +44 (0) 20 3727 
 Alex Beagley                               1000 
 James Styles 
 Sam Macpherson 
 

Notes to Editors

NAHL Group plc (AIM: NAH) is a leader in the Consumer Legal Services ("CLS") market. The Group provides services and products to individuals and businesses in the CLS market through its three divisions:

-- Personal Injury provides outsourced marketing services to law firms through National Accident Helpline and claims processing services to individuals through Your Law, Law Together and National Accident Law.

-- Critical Care provides a range of specialist services in the catastrophic and serious injury market to both claimants and defendants through Bush and Company Rehabilitation.

-- Residential Property provides marketing services to law firms and conveyancers as well as surveys to individuals through Fitzalan Partners. It also provides property searches through Searches UK.

More information is available at www.nahlgroupplc.co.uk

More information is available at www.nahlgroupplc.co.uk and www.national-accident-helpline.co.uk.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTFMMZZGZLGLZZ

(END) Dow Jones Newswires

December 23, 2019 02:00 ET (07:00 GMT)

1 Year Nahl Chart

1 Year Nahl Chart

1 Month Nahl Chart

1 Month Nahl Chart
Your Recent History
LSE
NAH
Nahl
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200218 15:13:48