Half Year Trading Update

NAHL (AIM: NAH), a leading marketing and services business focused on the UK consumer legal market, is pleased to provide a trading update for the first half of its current financial year, covering the six months to 30 June 2024 (the "Period").

Since the AGM Statement and Trading Update on 27 June 2024 (the "Statement"), the Group has traded in line with the Board's expectations. Revenues for the Period are expected to be £19.4m, (H1 2023: £21.0m) while operating profit is expected to be broadly in line with last year. The Group has made further progress in reducing net debt and at 30 June 2024, net debt had decreased 7% to £9.0m (31 December 2023: £9.7m).

In the Group's Consumer Legal Services division, the actions that management have taken to address the challenges in lead generation in National Accident Helpline (NAH), as detailed in the Statement, have resulted in a material reduction in average enquiry acquisition cost towards normalised levels alongside a modest growth in volumes. The Board continues to believe that these headwinds are short-term in nature.

In Critical Care, Bush & Co. traded well during the Period and delivered double-digit growth in revenue and profit. The Board is continuing to explore a potential sale of the business and is pleased to report strong levels of interest from a wide variety of potential buyers. The Board will update shareholders on progress as appropriate.

Trading through July has continued to plan and as a result, the Board remains confident of delivering a full year outturn in line with market expectations.

NAHL expects to announce its results for the six months ended 30 June 2024 in late September 2024.