This week, NAHL Group plc, the listed consumer marketing business, published its Interim Results on the London Stock Exchange (LSE).[i] The Group reported that its underlying operating profit for Q1 and Q2 of 2018 was £6.4 million, 12% down from Q1 and Q2 of 2017 (£7.3 million).[ii]
NAHL Group plc, which owns National Accident Helpline (NAH), the marketing services business, launched 2 joint-venture alternative business structures (ABS) in 2017: Your Law and National Law Partners. In 2019, the Group plans to launch a wholly-owned ABS, which will deal with small claims post-Governmental reform.[iii]
Although its total revenue (£24.9 million) remained static, the Group’s PI revenue increased by 4.3% to £15.5 million, ‘reflecting the consolidation of £1.7 million of ABS revenue’.
NAHL’s fall in operating profit was the result of setting up the forthcoming ‘small claims ready’ ABS. Its interim dividend value also dropped by 3%, following the LSE announcement.
[i] ‘NAHL Group PLC - NAH Interim Results’ (18 September 2018 LSE) <https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/NAH/13793967.html> accessed 20 September 2018.
[ii] John Hyde, ‘Profits slide at claims giant - but whiplash reforms an 'opportunity'’ (18 September 2018 Law Gazette) <https://www.lawgazette.co.uk/news/profits-slide-at-claims-giant-but-whiplash-reforms-an-opportunity/5067596.article> accessed 20 September 2018.
[iii] Neil Rose, ‘NAH to unveil “small claims ready” law firm next year’ (18 September 2018 Legal Futures) <https://www.legalfutures.co.uk/latest-news/nah-to-unveil-small-claims-ready-law-firm-next-year> accessed 20 September 2018.