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Interim Results

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Press Release 20 September 2016

 

PERSONAL GROUP HOLDINGS PLC

(“Personal Group” or “the Group”)

Interim Results

Personal Group Holdings Plc (AIM: PGH), a leading provider of employee benefits and employee related insurance products in the UK, is pleased to report its results for the six months ended 30 June 2016:

Highlights

  • Revenue increased by 10.2% to £21.0m (2015: £19.0m)
  • New insurance business generation increased 12.5% to £6.3m (2015: £5.6m)
  • Major contract wins secured including Samworth Brothers, Pendragon, Euro Car Parts and multiple health care sector companies
  • Investment has commenced in developing the Sage employee benefits product   
  • EBITDA* decreased by 29.9% to £3.2m (2015: £4.5m)
  • Profit before tax decreased by 33.5% to £1.9m (2015: £2.9m)
  • Basic EPS decreased by 38.1% to 4.8p (2015: 7.8p)
  • Dividends per share paid in the period up 5.3% to 11.0 pence per share (2015: 10.45 pence)
  • Group balance sheet remains strong with total equity (shareholders’ funds) of £30.3m (31 December 2015: £31.9m) and no debt
  • Decision made post period end not to progress with MVNO PG Mobile, full closure by December 2016

 

* EBITDA is defined as earnings before interest, tax, depreciation, amortisation of intangible assets, goodwill impairment, share-based payment expenses, acquisition costs, restructuring costs, write back of contingent consideration and release of tax provision. This definition applies to all references to EBITDA within these interim results. A reconciliation from PBT to this adjusted EBITDA has been included in note 3.

 

Mark Scanlon, Chief Executive of Personal Group, commented: 

“Our core business, which now includes the Lets Connect business, continues to perform consistently well with continued growth in new sales and top line revenue.

2016 is an investment year for the Group with this year’s performance affected by investment in the Sage program particularly. This new and innovative product is planned to go live before the end of the year and we believe that the market opportunity here is large. Other investments have also been made in our brand and hapi platform, further strengthening our market proposition.

The Group has taken the decision that the Mobile Virtual Network Operator (“MVNO”) named Personal Group Mobile (“PG Mobile”), which provides smartphones and airtime on a salary sacrifice basis is no longer viable in the current market and so the decision has been taken to run down this activity by the end of 2016. Though this is disappointing the Group feels it is important to act quickly in these situations which I believe we have done.

We remain optimistic about the Group’s future prospects. ”

 TO READ THE FULL RESULTS PLEASE CLICK HERE

– ENDS –

 

 

 For more information please contact:

 

Personal Group Holdings Plc
Mark Scanlon / Mike Dugdale+44 (0)1908 605 000

 

Cenkos Securities Plc 
Max Hartley / Stephen Keys (Nomad)+44 (0)20 7397 8900
Russell Kerr (Sales)

 

 Media enquiries:

 

Abchurch Communications
Alex Shaw / Julian Bosdet / Tim Thompson+44 (0)20 7398 7700
Personalgp@abchurch-group.comwww.abchurch-group.com

 

Contact us

Tel: 0800 542 5930

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If you need help with a claim or you have any query about your policy, please call 0800 542 5930 (calls are free from a mobile)
or email crm@personalgroup.com

Or log onto the Gateway

 

If you want to find out more about Hapi, give us a call anytime on 0333 0058022 or email us at hellohapi@personalgroup.com.

If you’d rather we call you, fill out the form below and we will be in touch.

Address

John Ormond House
899 Silbury Boulevard
Central Milton Keynes
Buckinghamshire
MK9 3XL

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Tel: 0800 542 5930

Address

John Ormond House
899 Silbury Boulevard
Central Milton Keynes
Buckinghamshire
MK9 3XL

Click here for a map.

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