FY20A results have come in higher than the minimums guided in January's trading update, reflecting resilience derived from recurring revenues over a challenging year. Lockdown activity over the past 12-months has significantly impacted ability to write new Insurance policies, the impact of which will be more visible over FY21E and concurrently met with higher costs, as face-to-face sales resume from June. As such, we expect a material decline in YoY earnings, but consider this to be temporary wh ....
23 Mar 2021
Cenkos: Personal Group Holdings Plc -- Building back better post lockdowns
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Cenkos: Personal Group Holdings Plc -- Building back better post lockdowns
Personal Group Holdings Plc (PGH:LON) | 164 2.2 0.8% | Mkt Cap: 51.2m
- Published:
23 Mar 2021 -
Author:
Cavendish Research -
Pages:
8
FY20A results have come in higher than the minimums guided in January's trading update, reflecting resilience derived from recurring revenues over a challenging year. Lockdown activity over the past 12-months has significantly impacted ability to write new Insurance policies, the impact of which will be more visible over FY21E and concurrently met with higher costs, as face-to-face sales resume from June. As such, we expect a material decline in YoY earnings, but consider this to be temporary wh ....