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Personal Group on track as trading improves across the board

Overall, trading is in line with management's expectations and ahead of last year

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Royal Mail staff now have access to the scheme

Employee benefits and insurance specialist Personal Group PLC (LON:PGH) saw first-half trading improve in all three of its divisions.

Personal started to supply its own reward and recognition, retail discounts and cinema tickets having previously used third parties, which raised revenues and improved margins across some offers, said Mark Scanlon, chief executive.

Insurance traded well, while salary sacrifice arm PG Let's Connect got a lift from the Royal Mail now using the service continuously and a contract from major employer Crown Commercial Services framework.

New clients

Personal’s SaaS (software) business also picked up Randstad, with 4,300 employees, and St John Ambulance, with 6,000 employees as clients.

An updated version of the Employee Benefits proposition sold in partnership with business software specialist Sage PLC (LON:SGE) has now been launched, while mobile app HAPI has also been updated.

Overall, trading is in line with management's expectations and ahead of last year, said Scanlon.

"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.

“The board remains confident in its outlook for the full year."

Quick facts: Personal Group Holdings PLC

Price: 280 GBX

Market: AIM
Market Cap: £87.41 m

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