Report

Personal Group | Initiation: Performing well by doing well

Personal Group combines a UK targeted affordable insurance business operating a unique business model together with a mainly SaaS based Benefits & Rewards business. The re-focused group has ambitious growth aspirations through 2030 targeting revenue of over £100m and generating EBITDA of £30m. Personal Group is growing rapidly with increasing profitability and is now committed to a 100% dividend payout policy. We forecast revenue to hit £55m by 2026 with net profit up 24% to £8.1m and an increased dividend, up almost 60% to 25.9p from 2024 with adjusted EBITDA up 40% to £14.0m. We believe that fully justifies the strong share price performance which still does not do justice to the full value potential of the group.
Underlying
Personal Group Holdings PLC

Personal Group Holdings is principally engaged in transacting employee services, including insurance products and the provision of salary sacrifice technology products in the U.K. Co.'s employee services platform, Hapi, provides a single point of integration of employee services, to aid employee engagement for clients. Co.'s insurance products include hospital and convalescence plans, death benefit and income protection which are underwritten by its authorized and regulated insurance subsidiaries. Co.'s Let's Connect offering provides its clients with home technology products from, among others, Apple, HP and Samsung for onward provision to their employees under salary sacrifice schemes.

Provider
Capital Access Group
Capital Access Group

Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.

Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.

Analysts
Colin Smith

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