NAHL Group bullish on recent business momentum
Legal Marketing and Service Provider NAHL Group said in an update on Wednesday that since announcing its results on March 29, it has continued to trade in line with expectations.
Publicly listed company AIM, which is holding its annual general meeting, said that in the first five months of the year, its consumer legal services division generated 34% more personal injury inquiries by compared to the same period last year.
That, he said, was in a claims market that remained subdued following the impact of the Covid-19 pandemic and the introduction of tort law reforms last year.
Managing Director James Saralis said that, in line with its strategy, the group continued to grow and invest in its fully integrated law firm National Accident Law (NAL).
He said 26% of total requests were distributed to NAL during the period, representing a 95% year-over-year increase in the number of requests allocated to NAL.
“In addition to increasing the value of its ongoing claims portfolio, NAL also collected 21% more cash from settlements during the period, compared to the prior year.
“Earlier this month, National Accident Helpline launched a new television advertising campaign designed to further strengthen its brand position and help drive volume growth.”
In the critical care division, James Saralis said Bush & Co has made “encouraging progress” from the effects of the pandemic.
“The number of initial needs assessments (INAs) completed and expert witness reports delivered to clients during the period increased by 10% and 9% respectively over last year, and the number of instructions for NAI and expert witness reports increased by 20% and 13% respectively.
“The Board is pleased to report that investment in marketing and business development continues to provide a strong pipeline of work.
“Overall, the board’s expectations for the full year remain unchanged.”
The NAHL said it would provide a trade update for the six months ending June 30 on August 1.
Reporting by Josh White on Sharecast.com