29th Sep 2015 11:04
LONDON (Alliance News) - Personal Group Holdings PLC on Tuesday said its pretax profit declined in the first half due to acquisition and restructuring costs, though revenue and new business generation both strengthened.
Pretax profit for the employee benefits group was GBP2.9 million in the six months to the end of June, down from GBP3.5 million a year earlier due to acquisition costs and restructuring costs related to the PG Mobile business. Stripping out one-offs, pretax profit was up to GBP4.0 million in the half.
Revenue was up 9.3% to GBP19.0 million, from GBP17.4 million, with like-for-like revenue growth of 4.2%. New core business generation was up 8.4% in the half to GBP5.6 million. Personal said it won key contracts in the half with the likes of car dealer Lookers PLC and vehicle hire company Northgate PLC, both London-listed.
"Our core business continues to perform consistently well with continued growth in new sales, top line revenue and bottom line profit," said Chief Executive Mark Scanlon.
Shares in Personal Group were down 1.2% to 509.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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