29th Jun 2021 14:55
(Alliance News) - NAHL Group PLC on Tuesday said it expects lead numbers to pick up in the second half of the year, whilst making "good progress" with its strategic initiatives since releasing its full year results in May.
The Northamptonshire-based legal services provider said it expects an increase in lead numbers in the second half of 2021 after ongoing UK pandemic restrictions subdued personal injury leads in the first quarter.
In May, the company said it expected to return to profit in 2021, with a full recovery to pre-pandemic levels by 2022.
Shares in NAHL Group were trading down 1.9% at 47.11 pence each in London on Tuesday afternoon.
Speaking at the company's annual general meeting on Tuesday, Chief Financial Officer James Saralis noted that initial results and claims continued to progress well through its systems after the company implemented a number of strategic initiatives to improve efficiency. Further improvements are planned for the remainder of the year.
NAHL Group said recent initiatives allowed its wholly-owned law firm, National Accident Law, to process 100% of the company's road traffic accident enquiries. To date, National Accident Law has already provided medicals for clients and several liability admissions through its interface small claims portal, with settlements expected in due course.
The firm added that its critical care division, Bush & Co, will continue to carry out its efficiency initiatives with regard to its case management and expert witness processes.
Meanwhile, the company's consumer legal services segment successfully implemented the government's personal injury reforms on May 31. While its personal injury business launched small claims proposition, also on time.
The company said it anticipates further net debt reduction later in the year. Net debt was GBP16.0 million on May 31. NAHL Group noted the possible sale of its residential property business in May. Adding on Tuesday that the board was "pleased with the level of interest received from interested parties".
The group said it will provide a trading update for the first half of the year on July 20.
By Scarlett Butler; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Nahl Group