23rd Dec 2019 10:17
(Alliance News) - NAHL Group PLC on Monday said its earnings are set to decline in 2019 amid a poor market environment.
The stock was 12% lower in London in morning trading at 104.25 pence a share.
NAHL said its Personal Injury division has performed marginally ahead of expectations so far in 2019, while Critical Care "remains on target".
However, due to the deterioration of the residential property market in the second half of 2019, NAHL said it expects underlying earnings to be between 5% and 10% below expectations.
For 2018, the AIM-listed company delivered underlying earnings of GBP6.7 million.
More positively, the UK consumer marketing and services firm reported continued progress from its joint venture alternative business structures, with Your Law LLP performing particularly well.
Elsewhere, NAHL said it has reached an agreement to terminate its relationship with National Law Associates LLP from Thursday next week. As part of this agreement NAHL said it will receive GBP5 million over the next three years in payment for historic panel enquiries while registering a one-off provision of GBP1.2 million in the current financial year.
By Evelina Grecenko; [email protected]
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