Interim Results

Interim Results

Tuesday, September 26, 2017

Press Release 26 September 2017

 

PERSONAL GROUP HOLDINGS PLC
(“Personal Group”, “Company” or “Group”)

Interim Results

Six Months ended 30 June 2017

Personal Group Holdings Plc, a leading provider of employee services in the UK announces its interim results for the six months ended 30 June 2017. The Company has made a solid start to the year, with the Group performing in-line with management’s expectations.

Highlights

Financial

• Group revenue of £19.6m (2016: £19.8m)
• EBITDA* from continuing operations of £3.7m (2016: £4.1m)
• Profit before tax from continuing operations of £3.0m (2016: £3.1m)
• Basic EPS from continuing operations of 8.2p (2016: 8.9p)
• Balance sheet remains strong with cash and deposits of £16.5m and no debt
• Dividends per share paid in the period up 3.2% to 11.35p (2016: 11.0p), maintaining progressive dividend policy

Operational

• Encouraging start to rollout of Sage Employee Benefits under a refined offer
• Core insurance income remained strong
• Hapi platform revenue increased to £0.9m (2016: £0.7m)
• Clarity of technology salary sacrifice offer post Finance Bill ratification

 

* 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.

Commenting, Mark Scanlon, Chief Executive of Personal Group, said:

“We have seen a solid start to the year with the Company performing in-line with management’s expectations. We now have greater clarity regarding the outlook of the salary sacrifice market, which has enabled us to clarify our customer offering to deliver a better client experience. The insurance business performed well and delivered solid new sales KPIs and core insurance revenue remained strong and slightly ahead of the first half last year. We are seeing an encouraging start to the roll out of our SME offer, under the refined strategy with Sage, with in excess of 1,200 additional corporate customers having access to our platform.”

Click here to read the Interim Results Statement

– ENDS –

 

For more information please contact:

Personal Group Holdings Plc
Mark Scanlon / Mike Dugdale +44 (0)1908 605 000
Philip Dennis (Investor Relations) +44 (0)7947 868 206
Cenkos Securities Plc
Max Hartley / Callum Davidson (Nomad) +44 (0)20 7397 8900
Russell Kerr (Sales)
Hudson Sandler
Nick Lyon / Sophie Lister / Lucy Wollam +44 (0)20 7796 4133

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