14th Jan 2020 11:15
(Alliance News) - Personal Group Holdings PLC on Tuesday said it is starting the new year in a "good" position after performance improved across all units in 2019.
The AIM-listed employee services provider said it has continued to make "good" progress on delivering its strategy, with overall trading in 2019 in line with market forecasts.
By division, the company's Insurance segment retained its "strong" profitability during 2019 despite a slowdown in new client wins. Personal Group, however, noted client wins are now improving amid investment in sales & marketing.
Turning to the PG Let's Connect division, Personal Group said the unit's performance has improved year-on-year and this positive momentum is expected to continue.
The company's software-as-a-service business delivered a strong increase in revenue in 2019, Personal Group said, driven by higher user spend on Hapi platform.
"I'm delighted to report the company traded in-line with expectations in 2019. We are starting to see the benefits of the investment that the company has made in sales and marketing and developing our strategy," said Chief Executive Deborah Frost.
She added: "We enter 2020 in a good position across all three business segments."
Personal Group shares were trading 0.7% lower in London on Tuesday at 358.48 pence each.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Personal Group