Update: Positive update; FY14 and FY15 estimates raised
NAHL has released a positive trading update, which indicates that its FY14 results are expected to be marginally ahead of our estimates. This has been driven by robust enquiry growth as the group continues to gain market share in the higher value sectors of non-RTA (non-road traffic accident) and medical negligence. In addition the balance sheet has improved with net cash standing at £1.2m at FY14 year-end. Based on this trading update, we raise our estimates, including a 0.5p increase in normalised diluted EPS for both FY14 and FY15. This supports our FY14 dividend estimate of 15.0p per share (and 16.8p for FY15) in line with the group’s stated dividend policy, and hence an attractive 6.3% yield. FY14 results are to be announced on 24 March.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.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.