Two of NAHL's (NAH) largest shareholders - private equity groups Inflexion and Lloyds Development Capital - have relinquished their combined 30 per cent stake in the National Accident Helpline operator. They sold a total of 12.3m shares, netting them about £14m each.
The disposals increase NAHL's undersized free float; its 10 largest investors held 77 per cent of its shares in September. And prospects for the group - which passes on personal injury claims to a panel of law firms - remain strong, with sales up a tenth last year. It benefited from 15 per cent more enquiries, validating its focus on growth areas such as medical negligence claims. It also swung from £2m in the red to net cash of £1.2m in just six months.
Broker Investec forecasts pre-tax profit of £13.9m this year, giving EPS of 25.1p.
