Personal Group Holding PLC (LON:PGH) is eyeing an improved performance of its software-as-a-service (SaaS) business over the rest of 2019 after a solid start to the year.
In a statement to be read at its AGM on Thursday afternoon, Mark Winlow, chairman of the employee benefits firm, said trading so far had been “in-line with expectations” and that the company is on course to meet its expectations for the full year.
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He said the group’s core insurance business had performed in-line with budget, while its Let’s Connect arm - which allows employees to buy technology through salary sacrifice - had made “a strong start to the year”.
Winlow added that the firm was confident its SaaS offering, comprised of employee engagement platform Hapi, would “deliver an improved performance” in the rest of 2019 following the acquisition of pay and reward consultancy Innecto in February.
Innecto’s co-founder, Deborah Frost, was appointed as chief executive of Personal Group following the purchase.
Going forward, Winlow said the employee benefits market remained “robust” despite a “less certain business environment” as employers found themselves under increasing pressure to retain staff and maximise productivity, which in turn could benefit the group.
The focus was now to “to increase the Company's revenues across all sectors of the business”.