Personal Group's H1/19A results show robust trading so far this year, with encouraging signs in SaaS and Let's Connect. However, new sales of the group's core insurance products are beginning to soften, while SEB's launch was later than expected. FY19E adj EBITDA is thus likely to be lower than forecast, but rpt PBT, EPS and DPS are expected to be in-line.
17 Sep 2019
Cenkos: Personal Group Holdings Plc - Improved recipe for future growth
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Cenkos: Personal Group Holdings Plc - Improved recipe for future growth
Personal Group Holdings Plc (PGH:LON) | 162 1.6 0.6% | Mkt Cap: 50.8m
- Published:
17 Sep 2019 -
Author:
Cavendish Research -
Pages:
7
Personal Group's H1/19A results show robust trading so far this year, with encouraging signs in SaaS and Let's Connect. However, new sales of the group's core insurance products are beginning to soften, while SEB's launch was later than expected. FY19E adj EBITDA is thus likely to be lower than forecast, but rpt PBT, EPS and DPS are expected to be in-line.