16:00 Mon 23 Mar 2020
Personal Group - Update re. Preliminary Results
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Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
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Update re. Preliminary Results for the Year Ended
At the recent request of the Financial Conduct Authority (FCA), and the
This request by the
The Company confirms that the FY 2019 Results are expected to be slightly ahead of market expectations, following sign-off by its auditors when permitted. In regard to current trading, the Group had a strong start to the year with its recently refined strategy showing positive signs.
Inevitably, the crisis caused by the Coronavirus will impact future trading and it is difficult to predict both the timing and extent of the impact. Whilst it is expected that the ongoing impact of the virus could have a material negative impact on the Group's EBITDA for 2020, and into 2021, the Group remains confident that its business will still be profitable with a strong balance sheet, positive cash flow and no debt. The majority of regulatory assets are held in cash and short-term fixed interest rate deposits with no exposure to equities. In addition, the Group benefits from regulatory capital with headroom significantly over and above the minimum requirements. Management are taking action to protect the business and will update investors as soon as possible.
For more information please contact:
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+44 (0)1908 605 000 |
Cenkos Securities Plc |
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+44 (0)20 7397 8900 |
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+44 (0)20 7796 4133
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Notes to Editors
The product offer is provided via the Company's proprietary technology platform, Hapi. The platform is intuitive, designed primarily for app deployment and also accessible via web and tablet, driving better engagement, communication and value recognition. Hapi is flexible and can quickly integrate additional services, such as existing employee services and partner platforms. Hapi is a digital SaaS product.
Through technology and select acquisitions, the Company has grown its addressable market to the majority of the working population in the
For further information, please see www.personalgroup.com
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