The acquisition earlier this year of a business that generates conveyancing leads is already boosting the bottom line at listed legal services provider NAHL Group, the company said today, announcing first-half results.
Fitzalan, which NAHL bought in February, 'made an impressive start', achieving £0.3m in operating profit in 20 weeks, the financial overview stated.
However revenue from the sale of products such as medical examinations decreased by 8.2% because of the introduction of the MedCo procedure for conducting medical reports in whiplash cases.
Overall, NAHL reported pre-tax profits up by 18.72% in the six months to 30 June, on turnover up 15% to £25.4m. Fitzalan contributed £1.5m to the group's revenue.
'The group remains highly cash generative, has a strong balance sheet and we are well positioned to take advantages of opportunities for further growth across a fragmented legal services market,' said chief executive Russell Atkinson.
NAHL describes itself as 'the leading UK consumer marketing business focused on the UK legal services market'. Its core business is the National Accident Helpline personal injury service.
The £4.3m acquisition of Fitzalan, which uses proprietary systems to target home buyers and sellers in England and Wales, was its first move into the conveyancing market.