Business
Preliminary Results - Year Ended 31 December 2019
Preliminary Results - Year Ended 31 December 2019.
About this update from Personal Group Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 2630K\n Personal Group Holdings PLC\n 21 April 2020\n \n \n \n \n \n \n \n \n Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n \n PERSONAL GROUP HOLDINGS PLC\n (\"Personal Group\", \"Company\" or \"Group\")\n \n \n Preliminary Results for the Year Ended 31 December 2019\n \n \n \n \n Another solid year with revenue and pre-tax profit growth\n \n \n \n Personal Group Holdings Plc, a leading provider of employee services in the UK, is\n pleased to announce its Preliminary Results for the year to 31 December 2019 together with comments on the impact of the coronavirus pandemic (COVID-19) on the business.\n \n \n 2019 Highlights\n Financial\n \n · \n Group revenue of £70.9m (2018: £55.3m) increased by 28%\n \n \n o \n Includes £18.4m transactional spend and commission on Hapi (2018: £6.9m)\n \n \n · \n Adjusted EBITDA of £11.0m (2018: £11.4m) down 4%\n \n \n · \n Profit before tax of £10.5m (2018: £10.2m) increased 3%\n \n \n · \n Basic EPS of 28.4p (2018: 27.2p) up 4%\n \n \n · \n Balance sheet remains strong with cash and deposits of £17.0m and no debt\n \n \n · \n Surplus capital resources of £13.8m over required resources of £4.9m\n \n \n · \n Dividend per share paid in the period up 1.3% to 23.3p (2018: 23.0p)\n \n \n Operational\n \n · \n Group's refined strategy proving effective \n \n \n · \n Accessed new insurance markets, enabling people on a contingent worker basis to benefit from our insurance products\n \n \n · \n PG Let's Connect revenue up 26% to £18.8m with adjusted EBITDA up 43% to £1.7m without any headcount increase\n \n \n · \n SaaS revenue of £21.5m is up 146% fuelled by an increase in transactional spend from £6.9m to £18.4m\n \n \n o \n Hapi users up 28% to 410,000 active employees with over 175 organisations using the platform\n \n \n o \n Successful acquisition of Innecto enables Personal Group to engage with a greater variety of employers\n \n \n o \n Sage Employee Benefits launched in September 2019 and Sage have launched a new marketing campaign in Q1 2020\n \n \n · \n Marketing team overhauled and new website launched\n \n \n · \n ISO 27001 a...