Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Consumer legal services group NAHL downgraded its annual guidance after its underlying performance was hurt by lower revenue pinned on the pandemic.
Pre-tax profit for the six months through June increased to £0.6 million, up from £0.4 million year-on-year, but was boosted by a fall in one-off costs.
Revenue declined to £19.5 million, down from £20.2 million, impacted by lower enquiry generation due to Covid-19 restrictions.
Underlying pre-tax profit fell to £2.5 million, down from £2.8 million.
NAHL said it expected its underlying profit and revenue for the full year to be lower than its expectations and lower than 2020.
It cited slower-than-expected growth in the number of personal injury enquiries due to the sustained impact of the pandemic, coupled with the strategic decision to grow the number of enquiries placed into NAL.