NAHL Group (NAH): Lower FY26 Consumer Legal Services outlook

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NAH NAHL Group

£21m · 46.0p · +28% since the first step

27 Jan 2026 · Board flags lower FY26 divisional outcome · +9% until the next step will likely result in a lower outcome for the Consumer Legal Services division in FY26 compared to the exceptional results experienced in FY25.

7 May 2026 · Q1 in line; fewer NAL settlements expected · −7% until the next step We expect to settle fewer claims than last year, as we started the year with fewer open claims.

25 Jun 2026 · Q2 in line; weaker H2 NAL flagged · −4% until the next step The Group expects to provide a trading update for the six months ended 30 June 2026 in July 2026.

22 Jul 2026 · H1 in line; weaker H2 NAL reconfirmed · +9% until the next step The Group continues to trade in line with management's expectations for the full year.

30 Sep 2026 · FY26 profit and cash now above market expectations · +19% since Post period-end, the Group announced that it had settled a long-running contract dispute with a supplier. As a result, the division is due to receive £1.85m on or before 15 October 2026 in full and fi

Upgrade / downgrade cycle

Lower FY26 Consumer Legal Services outlook

FY26 profit and cash now above market expectations

OCT15 Next: receipt of £1.85m settlement from supplier

Every step · 5

27 Jan 2026 Board flags lower FY26 divisional outcome – will likely result in a lower outcome for the Consumer Legal Services division in FY26 compared to the exceptional results experienced in FY25. ↗
7 May 2026 Q1 in line; fewer NAL settlements expected – We expect to settle fewer claims than last year, as we started the year with fewer open claims. ↗
25 Jun 2026 Q2 in line; weaker H2 NAL flagged – The Group expects to provide a trading update for the six months ended 30 June 2026 in July 2026. ↗
22 Jul 2026 H1 in line; weaker H2 NAL reconfirmed – The Group continues to trade in line with management's expectations for the full year. ↗
30 Sep 2026 FY26 profit and cash now above market expectations – Post period-end, the Group announced that it had settled a long-running contract dispute with a supplier. As a result, the division is due to receive £1.85m... ↗

What is happening

NAHL Group: Lower FY26 Consumer Legal Services outlook – FY26 profit and cash now above market expectations. ['FY26 profit and cash now above market expectations']

In short: Earlier guidance flagged notably weaker H2 NAL settlements, with H1 in line. The interims reconfirm lower H2 NAL settlements but now say FY26 profit and cash will be materially above market expectations. The reason is the £1.85m dispute settlement due by 15 October 2026.
Announced: 27 Jan 2026 · Board flags lower FY26 divisional outcome
Latest: 30 Sep 2026 · FY26 profit and cash now above market expectations
Amount at stake: £1.85m due on or before 15 October 2026
Board view: FY26 profit and cash generation materially higher than current market expectations
Headwind: Lower H2 NAL settlements, revenue and cash, as previously announced

What comes next

receipt of £1.85m settlement from supplier (15 Oct 2026).

From the company's own announcements. Not investment advice.

Briefing

NAHL Group in 4 minutes

NAHL is a UK consumer legal group. It markets injury claims to law firms through National Accident Helpline, runs its own law firm, National Accident Law, and owns Bush & Co, which supports people with catastrophic...

Act 1Betting on its own law firm
Act 2Google costs hit, 2024 write-down
Act 3Repair in 2025

Read the briefing →

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