Update: Positive trading in H114 - 7.4% prospective yield
NAHL’s trading update, covering the six months to 30 June 2014, says that its business has traded comfortably in line with the board’s expectations. The legislative changes implemented in the UK personal injury market in 2013 are now fully embedded and the group continues to see opportunities to deliver further growth in revenue and profit from its established business, as well as potential new service offerings. This trading update supports the positive view on NAHL outlined in our initiation note published on 13 June and provides comfort for our prospective estimates.NAHL Group is a marketing and services business focused on the U.K. consumer legal market. Co. operates across the Personal Injury division through its subsidiary, National Accident Helpline Limited, which validates the legitimacy of consumers' claim and connects them to a law firm. Co. operates across the Critical Care division through its subsidiary, Bush and Company Rehabilitation Limited, which provides case managers and witnesses to solicitors and insurance companies in support of injury victims. Co. operates across the Residential Property division through its subsidiaries, Fitzalan Partners Ltd and Searches U.K Limited, which provides conveyancing, searches and survey services.
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