18th Jan 2017 08:35
LONDON (Alliance News) - Legal marketing company NAHL Group PLC said Wednesday its trading in 2016 was in line with expectations and noted it has responded to the UK Ministry of Justice's consultation on personal injury claims.
NAHL, which owns the National Accident Helpline, confirmed it has traded in line with board expectations in 2016.
However, the company's 2017 outlook remains dominated by the Ministry of Justice's proposals to limit compensation for whiplash claims, which form a large part of its personal injury business.
The proposals, including a ban or cap on compensation and requring medical reports for payment on claims, were published in November 2016. Subsequently in December, NAHL said it is likely to face a bigger reduction in 2017 operating profit in its personal injury business than previously thought as it invests in alternative commercial arrangements.
On Wednesday, NAHL said it has contributed to the consultation on personal injury claims and expects a Ministry of Justice response in April.
The company also said its conveyancing and critical care divisions are unaffected by the consultation and it expects both to make good progress in 2017.
NAHL also said it still intends to propose a final dividend for 2016, having paid a 6.35 pence interim dividend earlier in the year. The company noted its dividend policy is to pay out two thirds of its retained earnings each year, with one third of that payment made at the interim stage.
Shares in NAHL were trading flat at 136.00p Wednesday morning, but are down by 45% since the beginning of November 2016.
By Adam Clark; [email protected]
Copyright 2017 Alliance News Limited. All Rights Reserved.
Related Shares:
Nahl Group