NAHL, the marketing and services business focused on the UK consumer legal market, is in a “robust position with cause to be optimistic for the future,” following a “strong financial performance” in 2023.
In an update on trading for the financial year ended 31 December 2023, the Kettering-based business revealed that revenues for the period are expected to be £42.2m, 2% ahead of the prior year.
Meanwhile, profit before tax is anticipated to be in line with market expectations at £0.6m, holding steady with the same figure in 2022.
James Saralis, CEO of NAHL, said: “2023 represented another year of solid progress and I am delighted to be reporting a strong financial performance for NAHL.
“Whilst the personal injury market remained subdued, we have successfully completed our transformation into an integrated law firm with improved cash generation and NAL increased cash from settlements by 73% to £6.0m. Critical Care has delivered a strong financial and operational performance and there is an exciting opportunity to deliver further market share growth.
“The Group continued to generate high levels of cash and this led to a 27% reduction in net debt to £9.7m, which was well ahead of market expectations. The steps we have taken in recent years to enhance the Group have borne fruit and NAHL ended its financial year in a robust position with cause to be optimistic for the future.”
