viewPersonal Group Holdings PLC

Personal Group hikes dividend, expects to remain profitable despite coronavirus crisis


  • Specialises in insurance and the provision of employee benefit schemes
  • Dividend hiked despite pandemic
  • Expects to remain profitable after crisis
Employee benefits

Quick facts: Personal Group Holdings PLC

Price: 271 GBX

Market: AIM
Market Cap: £84.6 m

What Personal Group does

Personal Group Holdings PLC (LON:PGH) specialises in the provision of employee services, including engagement programmes provided to corporate clients for their employees use and insurance products sold directly to client employees.

Insurance products include hospital cash plans, convalescence plans and death benefit, while employee engagement services focus more on salary sacrifice schemes, retail and leisure discounts and rewards, as well as other services like electronic payslips and app push notifications to help communicate with employees.

Personal Group’s business is currently divided into four main segments:

• An insurance business, which provides most of the group’s profits

• Let’s Connect – a service that allows employees to buy home technology through payroll deduction and salary sacrifice

• Software-as-a-service (SaaS) business – which includes Hapi, a benefits platform and app, enabling client employees to access their benefits

• Innecto – a pay and reward consultancy that provides support to employers setting up pay and reward schemes for their staff.


How is it doing

The firm is to pay a dividend despite the ongoing crisis, which is expected to hit performance although it reckons it will remain profitable.

The full-year distribution was hiked by 1.3% to 23.3p from 23.0p the previous year. The group has already paid a dividend of 5.9p in respect of the first quarter of the current year but the second-quarter dividend will be reduced to 1.5p, albeit with the possibility of the company making good the deficit once the dust settles with the coronavirus pandemic.

Adjusted underlying earnings (EBITDA) clocked in at £11.0mln for 2019, down 4% from £11.4mln the year before but a bit better than investment analysts had been forecasting.

Profit before tax rose 3% to £10.5mln from £10.2mln the year before on revenue that jumped 28% to £70.9mln from £55.3mln.


What the boss says: Deborah Frost, chief executive

“We're a 35-year-old business, we've been through upturns and downturns in the past - our business is based on a robust recurring revenue model and so just because we're working from home it doesn't mean we've shut our doors."

“We are lifting the gaze to the next six to twelve months to see how we can get through this and get back on the right footing.”




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