NAHL Group

NAH · AIM · Industrial Goods and Services · mcap £18m · 44.6p

NAHL runs National Accident Law, which handles personal injury claims for consumers, and Bush & Co, which provides case management and expert witness services in critical care. It also owned Searches UK, a small property searches business, now sold.

Target	Promise	Said	Status
2024
31 Dec 2024	Amortisation of intangible assets to conclude in 2024.	24 Jan 2024	… In progress
	“This amortisation will conclude in the current year to 31 December 2024.” Result Not yet due.
31 Dec 2024	Deliver 2024 profit growth and net debt reduction in line with market expectations.	2 May 2024	✗ Missed · target changed
	“the Board is confident in delivering the growth in profits and reduction in net debt in line with 2024 market expectations.” Also stated 24 Sep 2024 Result June 2024 update said revenues and profits would be significantly lower than expected, though FY2024 later came in line with expectations. “The Board remains confident in delivering a full year outturn in line with market expectations.”24 Sep 2024 · Half-year Results
31 Dec 2024	Personal Injury business at least breakeven in 2024.	27 Jun 2024	✓ Kept
	“the Board expects these headwinds to be short-term in nature and that the Personal Injury business will at least be breakeven in 2024” Result FY2024 underlying profit before tax was £1.4m and results were in line with expectations. “Despite the challenging trading environment in Personal Injury, NAHL delivered underlying operating profit in line with market expectations”7 May 2025 · Final Results and Investor Presentation
2025
31 May 2025	Announce FY2024 final results in May 2025.	29 Jan 2025	✓ Kept
	“NAHL intends to announce its final results for the year ended 31 December 2024 in May 2025.” Result Final results published on 7 May 2025. “NAHL, a leading marketing and services business focused on the UK consumer legal market, is pleased to announce its audited results for the year ended 31 December 2024.”7 May 2025 · Final Results and Investor Presentation
31 Dec 2025	Deliver FY2025 result in line with market expectations.	7 May 2025	✓ Kept
	“The Board remains confident in delivering a full year outturn in line with expectations.” Also stated 24 Sep 2025 Result January 2026 trading update and May 2026 results were in line with expectations, with profit up sharply. “Revenues for the Period are expected to be 3% ahead of the previous year at c. £40.0m (2024: £38.8m), while underlying operating profit is expected to have increased by 86% to c. £7.3m (2024: £3.9m).”27 Jan 2026 · Year End Trading Update
Today · 10 Oct 2026
2026
31 Oct 2026	Allocate Searches UK net proceeds against the revolving credit facility.	27 Aug 2026	… In progress
	“It is intended that the net proceeds generated from the Transaction will be allocated against the Group's revolving credit facility.” Status so far Not yet due.
31 Oct 2026	Reach a net cash position by end of October 2026.	30 Sep 2026	… In progress
	“the Group will be in a net cash position for the first time since the IPO in 2014” Status so far Not yet due.
31 Oct 2026	Complete the sale of Searches UK by October 2026.	30 Sep 2026	✓ Kept
	“the transaction is expected to complete imminently” Result Completion announced on 8 October 2026. “it has completed the sale of its non-core, wholly-owned subsidiary, Searches UK Limited, to TM Group (UK) Limited for an enterprise value of £1,234,000 on a cash and debt-free basis.”8 Oct 2026 · Completion of the sale of Searches UK Limited
31 Dec 2026	Critical Care initiatives to contribute from H2 2025 into 2026, with a detailed update later in 2026.	30 Jul 2025	… In progress
	“Management is progressing several initiatives to address this trend which are expected to begin having a positive impact in the second half of this year and into H1 2026.” Also stated 7 May 2026 Status so far Not yet due.
31 Dec 2026	Deliver FY2026 outturn in line with management's expectations.	25 Jun 2026	… In progress
	“the Board remains confident in delivering a full year outturn in line with management's expectations” Status so far Not yet due.
2027
31 Dec 2027	Reduce banking facility from £11m to £8.5m, running to 31 December 2027.	7 May 2026	✓ Kept
	“the Group successfully extended its banking facility with Virgin Money, reducing the £11m RCF to an £8.5m facility which runs to 31 December 2027.” Result Reported as completed in the FY2025 results.