Personal Group trading in line as all divisions improve

Employee benefits and insurance specialist Personal Group on Friday reported that its three business segments were all performing ahead of last year and in line with expectations.

The AIM traded company said that during the first half its salary sacrifice business PG Lets Connect has benefited from Royal Mail Group's salary sacrifice offer to its employees and was also appointed to the Crown Commercial Services framework, one of the biggest public procurement frameworks in the UK.

Meanwhile, the core insurance business started the year well and the firm’s software as a service division won contracts with Randstad and St John Ambulance.

The company also started to supply its own reward and recognition, retail discounts and cinema tickets having previously used third parties, which resulted in raised revenues and improved margins.

Other developments include the launch of the next generation of the Hapi app, which allows employees to track their benefits in real time, and the launch of the next product version of the Sage Employee Benefits proposition.

Mark Scanlon, chief executive of Personal, said: "Personal Group has performed in line with management's expectations during the first half of the year, which saw improvements across all parts of the business. This has provided us with a good foundation as we enter the second half of 2018, which has also started well. The board remains confident in its outlook for the full year."

Personal Group Holdings’ shares were unchanged at 466.00p at 1052 BST.