LONDON (ShareCast) - (Sharecast News) - Workforce benefits and insurance provider Personal Group said on Wednesday that it had delivered "strong revenue growth" across its divisions in H1 and was trading in line with FY market expectations.
Personal Group said H1 total revenues were up 11% at £23.3m, with more than 90% coming from recurring revenue sources, while adjusted underlying earnings grew 41% to £5.5m.

The AIM-listed group also noted that growing levels of recurring revenues had provided it with "good visibility" for FY25 and beyond.

Personal highlighted that it had made record new H1 insurance sales of £7.4m, up 7% year-on-year, and delivered continued high retention rates across all areas of the business.

Chief executive Paula Constant said: "Momentum has continued to build across the business, with another record period for insurance sales, and new customers and partners secured. Our consistent growth speaks to the value provided by our offerings and growing market opportunity, underpinned by our strategic progress.

"Personal Group has all the ingredients to accelerate growth, with a strengthened senior leadership team, streamlined operations, and reinvigorated sales approach. We are confident in continuing our progress in the second half, and have line of sight to achieving our aspirations to deliver in excess of £100m revenues, Group EBITDA of £30m and SaaS ARR of £20m, by 2030."

As of 1045 BST, Personal Group shares were down 2.78% at 303.34p.





Reporting by Iain Gilbert at Sharecast.com

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