Overview
NAHL Group, the AIM-listed specialist in the UK consumer legal market, reported a modest rise in revenue alongside a marked improvement in profitability for the 12 months ended December 31, 2025. Group revenue increased by 3% to approximately A340.0 million, while underlying operating profit surged 86% to around A37.3 million.
Profit before tax and drivers
The company said underlying profit before tax jumped by more than 250% to about A35.0 million, compared with A31.4 million in 2024. NAHL attributed this step-up primarily to higher revenues and reduced marketing costs within its Personal Injury activities.
Division performance
NAHL's Consumer Legal Services division delivered a 4% increase in revenue to roughly A323.8 million, with underlying operating profit more than doubling to approximately A34.4 million. The Critical Care division recorded a 2% rise in revenues to about A316.3 million, while underlying operating profit in that division remained flat at around A34.8 million.
Law firm operations and claims handling
National Accident Law, the group's law firm, settled 3,197 claims during the period. Those settlements generated roughly A310.7 million in cash receipts, an increase of 26% compared with 2024. NAHL also formed a new Serious Injury team to manage more complex and higher-value claims.
Cash flow and balance sheet
The group reported stronger cash generation, with free cash flow up 37% to about A33.9 million. Net debt at the year-end fell 55% to A33.2 million, a 10-year low for the business.
Outlook comments
NAHL said trading in 2026 has begun well across both of its divisional businesses. However, the company cautioned that lower enquiry volumes being routed into National Accident Law are expected to weigh on the Consumer Legal Services division in 2026 relative to 2025.
The figures presented are as reported by the company for the year ended December 31, 2025.