Results Centre

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• Group revenue from Continuing Operations* grew 13% to £43.8m (2023: £38.6m) with growth across all divisions.
• Annualised recurring revenue streams increased 13% to £43.4m as at 31 December 2024 (31 December 2023: £38.3m).
• Adjusted EBITDA** from Continuing Operations* increased 29% to £10m (2023: £7.8m).
• Profit before tax from Continuing Operations* up 34% to £6.8m (2023: £5.1m).
• Basic EPS from Continuing Operations* up 32% to 17.7p (2023: 13.4p)
• Strong balance sheet and liquidity with a cash position of approximately £27.4m as at 31 December 2024 (December 2023: £20.1m) and no debt.
• Final dividend of 10p per share, making a full year dividend for 2024 of 16.5p, an increase of 41% (2023: 11.7p), payable on 14 May 2025, reflecting the Group’s increased liquidity following the disposal of Let’s Connect and the Board’s continued confidence in the Group’s business model and prospects.

* Continuing Operations excludes the results of Let’s Connect, which was disposed of on the 9th of July 2024.
** Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation of intangible assets, goodwill impairment, share-based payment expenses, profit or loss on disposal of subsidiaries, corporate acquisition costs and restructuring costs.

Successfully simplified and streamlined the business, united behind a clear ambition and strategy

• Disposal of Let’s Connect, simplifying the Group structure, removing seasonality, enabling a greater focus on recurring revenue streams, and strengthening the balance sheet.
• Reorganised and strengthened team to deliver growth, including key strategic hires of Chief Operations Officer, and also Chief Sales Officer and Chief Commercial Officer post-period end.
• Delivery against strategy, informed by extensive market research identifying major areas of opportunity, and metrics in place to track progress.

Another record year for Insurance

• Annualised insurance sales increased 18% to £13.9m, driven by the success of our unique face-to-face sales model and relevance of our offering.
• Annualised Premium Income increased 14% to £36m (2023: £31.6m).
• High levels of customer retention at over 80%, testament to the value provided.

Enhanced Benefits offering providing a platform for expansion and driving recurring revenue growth

• Increased uptake of Hapi for enterprise clients, and Sage Employee Benefits (SEB), for SMEs, delivering ARR up 10% to £6.7m (2023: £6.1m).
• Won multiple industry awards, demonstrating the quality and competitive strength of the platform.
• Strengthened relationship with Sage, with the best-ever month of leads in November and December.

-Momentum carried through into 2025 and is expected to continue as the Group delivers against its strategy of driving growth through expanding and enhancing its product offerings and growing its customer base whilst also deepening within existing customers.

-Strong balance sheet and high levels of recurring revenues, along with positive trading in the new year, provides the Board with confidence in Personal Group’s growth acceleration.

Paula Constant, Chief Executive of Personal Group, commented: “I’m incredibly pleased to be reporting on such a strong year of progress for Personal Group, delivering double-digit revenue growth and completing some major operational projects to position the Group for further growth. We have entered 2025 a stronger business with a clear plan in place to accelerate growth and capture the significant market opportunity. Our Insurance and Benefits offerings are more relevant than ever in the current climate and our results are testament to the value we provide. I’m excited about what lies ahead and in achieving our ambition to deliver in excess of £100m revenues, Group EBITDA of £30m and SaaS ARR of £20m by 2030 as we continue to pursue the significant opportunities in an underpenetrated addressable market.”