Nahl Group plc
NAHL Group PLC is a UK AIM-listed group operating in two divisions: Consumer Legal Services (National Accident Law and National Accident Helpline personal injury claims brands, the Law Together joint venture, and Searches UK residential property search agency) and Critical Care (Bush & Co, providing medico-legal expert witness reports and case management for catastrophic injury and clinical negligence claims). The Group converts marketing-generated personal injury enquiries into cash through an integrated law firm model and provides specialist support services to the UK personal injury and clinical negligence claims market.
FY2025 in sixty seconds
year to 31 Dec 2025 · approved 6 May 2026 · 125 pages · Companies House
NAHL Group runs personal injury claims brands, including National Accident Helpline, and Bush & Co, which provides expert witness reports for serious injury claims. In the year to 31 December 2025, revenue rose 3.2% to £40.0m. The group made a profit after tax of £3.3m, against a loss of £39.3m the year before.
That earlier loss came mainly from a £39.9m write-down in 2024 of the value of its personal injury business. In 2025 the cost of attracting new injury enquiries fell back to normal levels and claim settlements brought in more cash, which lifted profit. Two one-off costs held profit back: an abandoned attempt to sell Bush & Co, and a restructuring. Higher employer National Insurance also pushed up Bush & Co's overheads.
The group ended the year with £1.5m of cash and cut its borrowings to £4.7m from £9.0m. It raised almost nothing from shareholders and proposed no dividend. Management said trading in early 2026 met expectations, but it expects less cash this year as fewer claims settle. The auditor raised no doubts about the group's ability to keep operating.
Personal injury enquiry generation and conversion via National Accident Law (NAL)/National Accident Helpline
13,389 enquiries generated in 2025 (2024: 19,744); 4,276 placed into NAL worth an estimated £5.8m in future revenue and cash
page 6Normalisation of personal injury cost-per-enquiry (CPE) back to historical levels after 2024 spike
Personal Injury operating margin improved from 8.7% in 2024 to 18.4% in 2025 as a result of lower enquiry acquisition costs, higher case settlement revenue and lower enquiry volumes in NAL
page 7I'm pleased to report that the Group has made a solid start to the new financial year and trading in the first quarter of 2026 was in line with the Board's expectations... we have not experienced any impact from the unfolding geopolitical and economic events on demand for our services.
page 5The Board does not believe it is appropriate to reinstate dividends at the present time; no final dividend has been proposed for 2025 (2024: nil). The Board will continue to review its capital allocation policy as the strategy evolves.
page 411 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
15 figures restated in a later report
Every figure is read again from the following year’s report: 355 confirmed, 10 differ, 15 restated.
| Line | Year | As first filed | In the later report |
|---|---|---|---|
| FY2024 | not printedFY2024 report | £9.0mFY2025 report | |
| FY2024 | £0FY2024 report | £15.6mFY2025 report | |
| FY2024 | £177kFY2024 report | £785kFY2025 report | |
| FY2024 | £236kFY2024 report | £290kFY2025 report | |
| FY2024 | £46.0mFY2024 report | £29.7mFY2025 report | |
| FY2024 | £18.5mFY2024 report | £27.5mFY2025 report | |
| FY2024 | £13.0mFY2024 report | £14.8mFY2025 report | |
| FY2024 | £21.8mFY2024 report | £27.9mFY2025 report |
7 more figures were restated in FY2015 to FY2022, which a free account opens.