Nahl Group boosts FY pretax profit, total dividend

Nahl Group has boosted its FY pretax profit by 13.3% to £15.8m, with total dividend being bumped up 1.6% to 19.05p a share, in what was its first year as a more strategically diversified business operating in aligned legal services markets.

CEO Russell Atkinson said 2016 saw the group make continued progress as a diversified business, with all three of its operating divisions contributing meaningfully to a solid full-year performance.

"Our Critical Care division benefited from the investment made in the business development function and management team, growing its market share," said Atkinson in a statement.

"Against a challenging market backdrop, the Residential Property business also saw revenue and profits grow thanks to its broadened service offering."

He added that it was a more challenging year for Nahl's Personal Injury (PI) division, which delivered a resilient trading performance.

"As part of the Group's long term planning since the Government's consultation was first announced in 2015, we took the strategic decision to invest in a proportion of our enquiries through different commercial and structural arrangements," added Atkinson.

"We have a clear strategy in place to develop our business model while our proven track record of responding to regulatory change and underlying brand strength leaves the PI division well positioned to succeed in the new landscape."

At 9:32am: (LON:NAH) Nahl Group share price was +7.63p at 165.63p