2021 was a “year of strategic progress” for NAHL, the marketing and services business focused on the UK consumer legal market, according to its CEO.
Final results for the year ended 31 December 2021 show that profit before tax increased to £0.2m, recovering from a £0.2m loss in 2020.
Revenue however decreased by 4.7% to £38.9m, from £40.9m in 2020, which the Kettering-based business says reflects the impact of COVID-19 restrictions on accident numbers.
James Saralis, CEO of NAHL, said: “2021 was a year of strategic progress for the Group despite the continued difficulties presented by the COVID-19 pandemic. We progressed on our key objectives, increasing enquiries placed into NAL, reducing our reliance on joint-venture partnerships and growing our ongoing claims in NAL at year-end by 166%.
“In Critical Care, we increased revenues by 9% largely due to successful new business development initiatives, with Expert Witness volumes up 21% year on year. The Group achieved this while reducing net debt and remaining profitable.
“At year-end we had 7,918 ongoing claims in NAL, up from 2,975 claims at the end of 2020 which we expect to convert into £8.4m of future cash.
“With the last of the COVID-19 restrictions now having been lifted, we expect to see mobility levels across the UK improve and for this to result in a gradual increase in the number of accidents in our markets.
“Finally, I would like to thank our employees for their hard work, support and commitment. They faced many challenges during 2021, including having to adjust to the changing COVID-19 restrictions, and demonstrated their resilience and dedication to supporting our customers and each other.”
