TIDMPGH
RNS Number : 2283V
Personal Group Holdings PLC
20 July 2018
Personal Group Holdings PLC
(the "Company", "Personal Group", "PGH" or "Group")
Trading Update
Personal Group PLC, a leading provider of employee services in
the UK, is pleased to provide the following update on trading for
the six months ended 30 June 2018.
The Company had a good start to the year, with trading in line
with management's expectations and ahead of last year's performance
in all three business segments. The core insurance business
continued to perform well, while PG Let's Connect, the Company's
salary sacrifice business, also had an encouraging start to the
year. The Company's SaaS business also performed as expected, with
an increase in revenues compared to last year.
PG Let's Connect benefited from Royal Mail Group's decision to
run its salary sacrifice offer to its employees on a continuous
basis from March onwards this year. PG Let's Connect was also
appointed to the Crown Commercial Services framework, one of the
biggest public procurement frameworks in the UK, in February, which
significantly expands the potential customer base.
The Company's SaaS business saw two significant client wins in
the first half of the year: Randstad, with 4,300 employees, and St
John Ambulance, with 6,000 employees.
The launch of the next product version of the Sage Employee
Benefits proposition, extended to Sage's wider client base,
continues to gear up and we look forward to progressing our
partnership. Indeed, the Company's commitment to the product has
strengthened this year. With immediate access to the significant
but fragmented small and medium business market, Sage remains a
natural channel partner for the Company.
As planned, the Company launched the next generation of the Hapi
app during the period. The updated version has improved
accessibility, now being available via the Apple app store, and
includes much greater user functionality.
During the first half of the year, considerable progress was
made in rationalising the Company's supply chain. A number of
additional products are now provided directly by the Company,
including reward and recognition, retail discounts and cinema
tickets, which previously relied on services from third parties.
This initiative is driving additional commercial benefit, with
increased revenues and improved margins across some offers, while
also reducing supply chain risk.
Mark Scanlon, Chief Executive of Personal Group, commented:
"Personal Group has performed in line with management's
expectations during the first half of the year, which saw
improvements across all parts of the business. This has provided us
with a good foundation as we enter the second half of 2018, which
has also started well. The Board remains confident in its outlook
for the full year."
-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
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 30 years' experience, the Company provides
employee benefits and services to over 2 million employees across
the UK.
Personal Group's offer comprises 8,000 in-house and third party
products and services, from c.60 supply lines. In-house services
include employee insurance products (hospital plans, convalescence
plans and death benefit plans) and the provision of technology via
salary sacrifice (iPads, computers, laptops, smart phones and smart
TVs). Third party services include retail discounts, employee
assistance programmes, wellbeing programmes and salary sacrifice
cars and bikes.
The offer is provided via the Company's proprietary technology
platform, Hapi. The platform is intuitive, designed primarily for
app deployment and is also accessible via the web on PC 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
SaaS product.
Through technology and select acquisitions, the Company has
grown its addressable market from 6m to 32m UK employees; 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, combined with its face-to-face method of
communicating with employees, makes its offer compelling to blue
chip clients across the UK as a way of attracting, retaining and
motivating employees.
Personal Group has a strong client base across a range of
sectors including passenger transport, healthcare, logistics and
food manufacturing. Clients include: Stagecoach, Four Seasons
Health Care, Priory Group, Spire Healthcare, Bibby, 2 Sisters Food
Group and Young's Seafood.
For further information, please see www.personalgroup.com
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END
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