Business
Preliminary Announcement
Preliminary Announcement.
About this update from Personal Group Holdings Plc
[{"type":"text","content":"\n \n PERSONAL GROUP HOLDINGS PLC \n\n PRELIMINARY ANNOUNCEMENT OF RESULTS \n\n FOR THE YEAR ENDED 31 DECEMBER 2009 \n\nThe board of directors of Personal Group Holdings Plc, providers of employee\nbenefits, insurance, consultancy and financial services, are pleased to\nannounce the group's results as follows:\n\n * Gross premiums written up 7.3% to £17.6m (2008: £16.4m)\n \n * Revenue steady at £26.4m (2008: £26.8m)\n \n * Profit before tax up 5.8% to £5.5m (2008: £5.2m)\n \n * EPS up 20.7% to 11.1p per share (2008: 9.2p)\n \n * New business written in core business at record levels for the second\n successive year.\n \n * Berkeley Morgan impacted by economic downturn: goodwill reduced in the\n consolidated balance sheet by a further £3.0m leaving a carrying amount of\n £3.0m for Berkeley Morgan.\n \nThe AGM will be held on 27 April 2010.\n\nNigel Brittle, Group Chief Executive, commented:\n\n2009 was a year of continuing strong performance for the group despite the\neconomic downturn.\n\n26 new benefit programmes were launched during the year, underpinning a second\nsuccessive year of record new business production, which augurs well for our\nfuture profitability. Our hospital plan and death benefit products continue to\nbe valued both by our host companies and their employees, whilst our new\nVoluntary Group Income Protection plan is making positive progress and winning\nincreasing customer confidence.\n\nOur customers continue to emphasise the importance of communication, engagement\nand involvement for their staff in voluntary employee benefit programmes. The\nface to face service that Personal Group delivers in the workplace continues to\nachieve levels of participation that more remote product or service offerings\nstruggle to replicate.\n\nEnquiries:\n\nPersonal Group Holdings Plc Tel: 0207 367 8888 (on 22/3/09)\nNigel Brittle 01908 605000 (thereafter)\nKen Rooney\nJohn Barber\n\nBankside Consultants\nSimon Rothschild Tel: 0207 367 8871\n\nCenkos Securities plc\nStephen Keys Tel: 020 7397 8926\n\n\n\nChairman's statement\n\nINTRODUCTION\n\nI must start my first statement as your group's new chairman by paying tribute\nto my predecessor Christopher Johnston. Christopher founded Personal Assurance\nPlc (PA) 25 years ago and under his exceptional stewardship the business has\ndeveloped and prospered. His close assoc...