Personal Group has released a robust trading update for FY21E, with revenue up c4% YoY to c£75m and Adj EBITDA of c£6m (in line with our forecasts). The group has benefited from a return to face-to-face insurance selling as Covid-related restrictions eased, whilst continued progress has been made within the group's other divisions. Closing net cash was strong (£22m+) and was better than our forecast (c£17.3m). FY22E has reportedly started well, and with employers increasingly cognisant of their ....
