Personal Group Holdings has confirmed positive trading in H1/22, with revenue and adjusted EBITDA in line with management expectations and continued confidence in its full year outlook. We have been surprised with the relative weakness of the share price and today's statement should provide reassurance in terms of the current growth momentum in the business. In our view, the current valuation provides a very attractive entry point. We make no changes to forecasts and on an ex-cash FY23E PE of 11 ....
