Business
Preliminary Results - Year Ended 31 December 2018
Preliminary Results - Year Ended 31 December 2018.
About this update from Personal Group Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9531T Personal Group Holdings PLC 26 March 2019 \n\n \n\n\n\n \n\n \n\n\n\n\n \n \n \nPERSONAL GROUP HOLDINGS PLC\n(\"Personal Group\", \"Company\" or \"Group\")\n \n \nPreliminary Results For the Year Ended 31 December 2018\n \nAnother year of solid growth\n \n \nPersonal Group Holdings Plc, a leading provider of employee services in the UK, is pleased to announce its Preliminary Results for the year to 31 December 2018.\n \nHighlights\n \nFinancial\n \n· Group revenue increased by 22% to £55.3m (2017: £45.2m)\n· Adjusted EBITDA* increased by 5.8% to £11.4m (2017: £10.8m)\n· Profit before tax increased by 7.4% to £10.2m (2017: £9.5m)\n· Earnings per share of 27.2p (2017: 26.9p)\n· Dividend increased by 1.3% to 23.0p\n· Strong balance sheet and no debt\n \nOperational\n \n· Further year of strong new insurance sales, despite performance being impacted by GDPR \n· PG Let's Connect revenue increased by 33%, with client numbers increasing by 36%\n· SaaS related revenue increased by 229%, driven by the increase in customer spend through the Hapi platform combined with several new client wins, including some SaaS-only \n· Launched the Sage Employee Benefits (SEB) product to Sage's wider client base in Q4\n· Invested in sales and marketing to drive additional revenue opportunities\n· Accelerated plans to bring the supply chain in-house\n \nPost period end\n \n· On 28th February, the Company acquired Innecto People Consulting Limited for a cash consideration of £3.0m\n· In February 2019, the Company received information from HMRC in relation to the PG Let's Connect tax provision which will result in a further £0.5m being released in 2019\n \n*Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation of intangible assets, goodwill impairment, share-based expense payments, corporate acquisition costs, restructuring costs, write back of contingent consideration a...