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AGM Statement

Wednesday April 25, 2018

Investor News

AGM Statement

Personal Group Holding PLC

(the “Company”, “Personal Group”, “PGH” or “Group”)

 

At the Annual General Meeting of Personal Group PLC, to be held today at 1:00pm at John Ormond House, 899 Silbury Boulevard, Milton Keynes, MK9 3XL, Mark Winlow, Chairman of the Company, will make the following statement:

“Personal Group has had an encouraging start to the year.

The Company’s core insurance business has seen another strong start to the year, with record first quarter sales and productivity. This performance reflects the strength of the sales team, which we invested in and augmented during 2017. 

The Company’s technology salary sacrifice business, PG Let’s Connect, has also experienced a strong start to the year. Royal Mail plc, a key customer, launched PG Let’s Connect’s salary sacrifice offer to its employees on the 1st of March, as planned. The offer has been well received, with orders exceeding our initial expectations. It is a very encouraging start that has given us added confidence that PG Let’s Connect will make an appropriate contribution to our 2018 results. 

The Company’s Software-as-a-Service (SaaS) offer, Hapi, continues to perform as expected, with client wins such as Randstad, a global leader in HR services, as a pure ‘SaaS’ client with 4,300 employees. The Company is now in the process of gearing up for the roll out of the Sage Employee Benefits (“SEB”) offer to Sage’s wider client base as a standalone product. To date, the focus of the SEB offer has been on Sage’s payroll clients, which account for only a portion of Sage’s significant client base. This new initiative will include all of Sage’s accounting and enterprise division customers. 

In recent years, the focus of the Company has been on developing and broadening its offerings. That focus has now shifted to the delivery of those offerings across all market sectors, to existing and new potential clients. Where we see an opportunity to add a product to our offer that is compelling and adds real value to our customers and their employees we will continue to do so. As an example, we are launching an online doctor product, giving client employees the opportunity to gain video access to a GP over a smartphone with minimal disruption to their daily work and home lives at a highly competitive price. 

 

It has been a promising start to the year and the Board are confident of achieving market expectations for the full year.”

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