NAHL profits rise as it edges away from mass PI market

Leading marketing company National Accident Helpline has posted a 17.1% rise in half-year profits as it seeks to move away from low-value claims.

The company announced to the London Stock Exchange today that profit before tax was up to £7.5m in the first six months of 2016, compared with £6.4m in the same period last year.

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Revenue rose just 1.3% to £25.8. The share price value increased by 3% following the announcement.

NAHL told investors it has sought a ‘higher value blend’ of personal injury cases against an uncertain regulatory backdrop.

The company has deliberately reduced volumes to focus on higher value-type cases, as it anticipates greater restrictions on the claims sector.

In July it reported that case numbers in its PI unit had fallen and it intended to build a more diverse business model.

‘We continue to plan for a range of outcomes as we await the anticipated publication of the Ministry of Justice’s consultation,’ said chief executive Russell Atkinson (pictured).

‘The underlying performance of the group continues to benefit from our strategic diversification into complementary legal services markets and we have continued to make good progress on achieving our vision of being the UK’s leading marketing and services provider in our chosen legal markets.’

NAHL said its conveyancing division has shown ‘good organic growth’, while the group’s critical care division is trading ahead of plan.

The group confirmed it will make an interim dividend payment of 6.35p per share, up from 6.25p in the first half of 2016.

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NAHL profits rise as it edges away from mass PI market