REG - Personal Group - Trading Update & Notice of Full Year Results

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RNS Number : 6294Q  Personal Group Holdings PLC  28 January 2026

28 January 2026

 

PERSONAL GROUP HOLDINGS PLC

("Personal Group", "Company" or "Group")

 

Trading Update & Notice of Full Year Results

Strong strategic execution, delivering double digit growth in both revenue and
EBITDA

EBITDA ahead of market expectations

 

Personal Group Holdings Plc (AIM: PGH), the workforce benefits and insurance
provider, is pleased to provide the following update for the financial year
ended 31 December 2025 ("FY 2025") and confirms that the Company expects to
publish its results for FY 2025, together with notification of its final
dividend, on 24 March 2026.

 

Financial Highlights

 

 ·         Revenue of approximately £48.4m, up 11% (2024: £43.8m), with growth across
           all areas
 ·         Adjusted EBITDA* of approximately £12.1m, up 21% (2024: £10.0m), ahead of
           market expectations**
 ·         Continued growth in recurring revenues, providing good visibility for FY 2026
           and beyond
           o                                         Insurance Annualised Premium Income ("API") increased by c.12% to £40.5m
                                                     (2024: £36.0m)
           o                                         Benefits Platform Annual Recurring Revenue ("ARR") increased c.6% to £7.1m
                                                     (2024: £6.7m)
 ·         Record new insurance sales of £15.4m API, up 11% on previous year (2024:
           £13.9m)
 ·         Strong balance sheet and liquidity with a cash position of approximately £29m
           as at 31 December 2025 (31 December 2025: £27.4m) and no debt

 

*Adjusted EBITDA is defined as earnings before interest, tax, depreciation,
amortisation of intangible assets, goodwill impairment, share-based payment
expenses, profit or loss on disposal of subsidiaries,

corporate acquisition costs and restructuring costs.

** For the purpose of this announcement, the Company believes market
expectations for FY 2025 to be Adjusted EBITDA of £11.6m.

 

Operational Highlights

 

Affordable Insurance

 

It was another strong year for new insurance sales, resulting in new
annualised insurance sales growth of 11% to £15.4m (2024: £13.9m). API
increased 12% to £40.5m as at 31 December 2025 (31 December 2024: £36.0m),
supported by strong retention levels of over 80% year-on-year. Claims levels
in the second half of the year fell slightly, as anticipated.

 

The Group's strong performance in insurance is testament to the growing demand
for its offerings from enterprises seeking to support their employees' health
and well-being. This is evidenced by the new client wins achieved in the
period, which will provide the Group access to c.50,000 new employees during
2026. It also demonstrates the success of the Group's unique face-to-face
sales model.

 

The Group made progress on growing its portfolio through innovation. The
Digital Insurance offering was trialled with 17 customers, receiving positive
feedback, and the Group Cash Plan is progressing well, with the first
customers secured and a partnership with a major benefits provider in place.

 

Benefits & Reward

 

The year saw an increased uptake of the Group's digital benefits platform,
comprising Hapi and Sage Employee Benefits, its SME-focused offering in
partnership with Sage Group plc ("Sage"), resulting in ARR growing to £7.1m
as at 31 December 2025 (31 December 2024: £6.7m). As previously announced,
the Group renewed and expanded its partnership with Sage and saw the first new
region, Ireland, go live in July 2025, as well as securing a new Small and
Midsize Business (SMB) partner, EB Now, with the first 15 clients going live
via that platform in H2 FY 2025.

 

The Group's Pay & Reward division continued its positive first half
performance, with further new contract wins and the launch of its new SaaS
platform, Pathfinder. As a result, ARR from its digital offerings increased
14% to £0.81m as at 31 December 2025 (31 December 2024: £0.71m).

 

Outlook

 

The Group is focused on sales execution, product innovation and expanding the
addressable employee base through new customers and partnerships, in order to
capture the significant growth opportunity ahead. The successful
implementation of these initiatives will provide the foundations required to
achieve the Group's 2030 ambitions of at least £100m revenue, £30m EBTIDA
and £20m SaaS ARR.

 

Paula Constant, Chief Executive of Personal Group, commented: "I'm delighted
with our 2025 results which are a testament to our passionate people, our
operating pace and the continued relevance of our offerings, which are now
supporting the health and wellbeing of over 1 million UK employees. We are
delivering on our strategic ambitions and are well positioned to enter the
first full year of our 5-year strategy, as we drive towards achieving our
aspirational targets.

 

"Insurance sales continue to go from strength to strength which, alongside
growing levels of ARR and healthy cash generation, support an
ever-strengthening balance sheet. New Insurance client wins and partnerships
during 2025 have expanded our addressable customer base and laid the
foundations for continued growth."

 

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication
of this announcement, this information is now considered to be in the public
domain.

 

 

For more information please contact:

 Personal Group Holdings Plc
 Paula Constant / Sarah Mace                                  via Alma

 Canaccord Genuity Limited (Nominated Adviser & Broker)
 Max Hartley / Harry Rees                                     +44 (0)20 7523 8000

 Alma Strategic Communications
 Caroline Forde / Kinvara Verdon / Rose Docherty              +44 (0)20 3405 0205

                                                              personalgroup@almastrategic.com

 

Notes to Editors

 

Personal Group Holdings Plc (AIM: PGH) is a workforce benefits and insurance
provider. Its vision is to be the champion of affordable and accessible
insurance and benefits, keeping businesses and their employees happy, healthy
and protected. The Group is proud to support the health and wellbeing of over
1 million UK employees.

 

The Group's insurance provides employees with access to affordable, individual
policies for hospital (https://www.hapi.co.uk/insurance/hospital-cash-plan)
, recovery (https://www.hapi.co.uk/insurance/convalescence-plan)  and death
benefit (https://www.hapi.co.uk/insurance/death-benefit-plan)  plans. The
Group's award-winning benefits platform, Hapi, brings together extensive
employee benefits, discounts and rewards, in one responsive platform. As well
as being sold direct to employers, the Hapi platform supports Sage's Employee
Benefits offerings for SMEs.

 

This comprehensive range of offerings, powerful platform and unique sales
model of face-to-face, one-to-one engagement with employees, provides Personal
Group with a strong market position from which to grow.

 

Head-quartered in Milton Keynes, the Group has built an extensive blue-chip
customer list over its 40-year history, including Airtanker, B & Q,
Barchester Healthcare, British Transport Police, Merseyrail, Office of
National Statistics, Randstad, Royal Mail Group, The Royal Mint, Stagecoach
Group plc, and The University of York.

 

For further information on the Group please see www.personalgroup.com
(http://www.personalgroup.com/)

 

 

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