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NAHL warns profits to come in 5-10% below its expectations

Friday, 11th January 2019
Legal services marketing business NAHL Group said it expected to post profits below its previous expectations after a 'disappointing' end to the year.

Profits and adjusted earnings per share were both expected to 5-10% below previous management expectations, the company said.

The company reiterated that its personal injury division had experienced an ongoing decline in panel law firm demand as a result of forthcoming regulatory changes.

In addition, the residential property division continued to be impacted by 'the state of the housing market', it added.

NAHL said it expected to pay a final dividend, which, combined with the interim dividend, would maintain its policy of a total dividend covered twice by earnings per share.

Net debt at the end of 2018 was £15.5m, which NAHL said was lower than expected.

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