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NAHL says trading in line; to launch new personal injury JV in 2019

Wednesday, 18th July 2018
Legal-sector focused marketing company NAHL Group said it had generated modestly lower earnings in parts of its personal injury business, though its first-half performance was still expected to meet its expectations.

The company has formed a number of joint ventures in its personal injury division, which it referred to as 'alternative business structures'.

The first venture, established in July 2017 with NewLaw, had experienced encouraging levels of closed cases and damages awards, with associated profits in line with expectations.

The second, established in November 2017 with Lyons Davidson, continued to build scale, while the third was still in the planning stage and expected to launch in the first half of 2019.

'As we manage these variables and the placement of enquiries in our business we are seeing a slightly different mix of profit to that originally envisaged,' NAHL said.

'We expect to see modestly lower levels of Ebitda offset by lower levels of minority interest, with no overall impact on 2018 earnings.'

The company said its critical care division had a good first half, while the residential property unit 'continues to trade in a challenging housing market'.

'The group has delivered a good performance in the first half, as we continue to transition our business model through 2018 and 2019 and I am pleased that earnings are in line with our plans,' chief executive Russell Atkinson said.

'I welcome the progress made following the launch of our ABS structures, which will provide us with greater flexibility in the way we process enquiries.'

At 8:26am: (LON:NAH) Nahl Group share price was 0p at 121.5p

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