TIDMPGH
RNS Number : 6521Z
Personal Group Holdings PLC
14 January 2020
Press Release 14 January 2020
Personal Group Holdings plc
("Personal Group", the "Company" or the "Group")
Trading Update
Personal Group Holdings Plc (AIM: PGH), a leading provider of
employee services in the UK, is pleased to provide the following
trading update following its financial year ended 31 December 2019
("FY 2019").
The Company has continued to make good progress on delivering
the strategy following the appointment of Deborah Frost as Chief
Executive in March 2019. Overall trading for FY 2019 was in-line
with market expectations.
The Insurance segment retained its strong profitability during
2019 despite the volume of new policies written during the year
being slightly hindered by a slowdown of new client business wins.
The Company is now starting to see positive signs from its
investment in sales and marketing to address this.
During FY 2019, the PG Let's Connect segment improved its
year-on-year performance. The company expects this growth to
continue following a positive reaction to the new proposition
created for the NHS.
The Company's SaaS business delivered a strong increase in
revenue, driven by increased user spend on Hapi (Personal Group's
own platform) and the fact that the provision of products such as
reloadable cards, e-vouchers and cinema tickets are now serviced
largely in-house. An increase in paid-for Hapi subscriptions and
the addition of consultancy income following the acquisition of
Innecto have also helped to drive this growth.
The relationship with Sage continues to progress following the
launch of Sage Employee Benefits on 2 September 2019 and a new
extensive marketing campaign is planned by Sage for Q1 2020.
Personal Group remains well placed to benefit from the continued
growth and development of the employee services market and the
associated increasing pressure on businesses to improve
productivity and attract and retain staff in a tightening labour
market.
Deborah Frost, Chief Executive of Personal Group, commented:
"I'm delighted to report that the Company traded in-line with
expectations in 2019. We are starting to see the benefits of the
investment that the Company has made in sales and marketing and
developing our strategy. We enter 2020 in a good position across
all three business segments."
- ENDS -
For more information please contact:
Personal Group Holdings Plc
Deborah Frost- Chief Executive
Mike Dugdale - Chief Financial
Officer +44 (0)1908 605 000
Cenkos Securities Plc
Max Hartley / Callum Davidson
(Nomad) +44 (0)20 7397 8900
Russell Kerr (Sales)
Media enquiries:
Hudson Sandler
Nick Lyon / Lucy Wollam +44 (0)20 7796 4133
www.personalgroup@hudsonsandler.com
Notes to Editors
Personal Group Holdings Plc (AIM: PGH) is a technology enabled
employee services business, working with employers to drive
productivity though better employee engagement and a more motivated
workforce. With over 35 years' experience, the Company provides
employee benefits and services to a large number of employees
across the UK.
Personal Group's offer comprises in-house services, including
employee insurance products (hospital, convalescence plans and
death benefit), the provision of home technology via salary
sacrifice (iPads, computers, laptops, smart phones and smart TVs),
the provision of e-payslips, and pay and reward consulting via
Innecto, the leading independent UK consultancy acquired in 2019.
Third party services include retail discounts, employee assistance
programmes, wellbeing programmes and salary sacrifice cars and
bikes.
The product offer is provided via the Company's proprietary
technology platform, Hapi. The platform is intuitive, designed
primarily for app deployment and also accessible via web and
tablet, driving better engagement, communication and value
recognition. Hapi is flexible and can quickly integrate additional
services, such as existing employee services and partner platforms.
Hapi is a digital SaaS product.
Through technology and select acquisitions, the Company has
grown its addressable market to the majority of the working
population in the UK; including 15.6m SME employees targeted via
its partnership with Sage, the UK's largest software company.
Personal Group's innovative approach to using technology to
deliver its programmes, in combination with its face-to-face method
of communicating with employees, delivers a compelling offer to
blue-chip clients across the UK as a way of attracting, retaining
and motivating employees. The acquisition of Innecto in February
2019 allows Personal Group to engage with clients earlier in their
thinking around Pay and Reward, and to interact with a new base of
blue-chip and fast growth clients typically at HR Director and CEO
level.
Personal Group has a strong client base across a diverse range
of sectors. Clients include: Arsenal F.C., Barchester Healthcare
Ltd, DHL Supply Chain Limited, The Go-Ahead Group plc, Samworth
Brothers Ltd, Independent Television News, Stagecoach Group plc and
Wincanton plc.
For further information, please see www.personalgroup.com
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END
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