Personal Group reports strong start to new year

5th May 2022 14:13

(Sharecast News) - Employee benefits provider Personal Group said in an update on Thursday that 2022 had started strongly, with the company "firmly on course" to achieve year-on-year growth.

The AIM-traded firm, which was holding its annual general meeting, reported strong trading in the first quarter, including "good momentum" in insurance policy sales.

Chairman Martin Bennett said its five-year contract extension with Sage, announced at the start of the year, had developed further with around 1,700 small-to-medium companies now on Sage Employee Benefits.

"The workforce benefits market is rapidly growing and as a business that sits at the heart of it, the demand for our services has never been greater or more relevant," Bennett said.

"Whilst we remain mindful of macro political and economic uncertainties, we are confident about the group's prospects as the importance of our service offering continues to rise.

"We believe we are now well placed to capitalise on the market opportunities available to us and are poised to accelerate our progress, driving forward initiatives to expand the business."

At 1156 BST, shares in Personal Group Holdings were down 0.28% at 296.55p.