Results Centre

• Group revenue up 11% to £48.4m (2024: £43.8m), with growth across all divisions  
• Annualised recurring revenue streams (ARR) up 12% to £48.6m as at 31 December 2025 (31 December 2024: £43.4m), with over 90% of reported revenue for 2025 deriving from the recurring revenue sources of insurance and SaaS subscriptions
• Adjusted EBITDA* up 22% to £12.1m (2024: £10.0m), ahead of market expectations**
• Profit before tax up 23% to £8.4m (2024: £6.8m)
• Basic EPS up 32% to 23.3p (2024: 17.7p)
• Strong balance sheet and liquidity with a cash and bank deposits position of £29.0m as at 31 December 2025 (December 2024: £27.4m) and no debt
• Cash generated from operating activities of £9.9m (2024: £11.4m)

• Final dividend of 15.1p per share, making a full year dividend for 2025 of 23.3p, an increase of 41% (2024: 16.5p)
  
  * 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.
  ** For the purpose of this announcement, the Company believes market expectations for FY25 to be Adjusted EBITDA of £11.6m.

   

Record year for new Insurance sales driven by increased operational grip, unique face-to-face model, and growing relevance of the Group's offering

• Annualised new insurance sales increased 11% to £15.4m and Annualised Premium Income (API) increased 12% to £40.5m (2024: £36.0m), supported by strong customer retention of 81.7%. 

• Increased penetration of the Group's existing Top 100 sites and delivering against key KPIs. 

• New clients wins, including Avery, Securitas and Harbour Healthcare, added over 50,000 new employees to the Group's addressable customer base available for insurance. 

• Commenced testing of new digital insurance propositions for hospital cover and death plan, with positive early response from customers.

Continued uptake and expanded reach within Benefits & Rewards

• Benefit Platform ARR of £7.3m (2024: £6.7m) driven by continued uptake and 30 new Benefits clients, including University of St Andrews, Rehability UK and Hampshire Trust Bank.

• Renewed partnership with Sage, expanding into new products and geographies, entering the first new territory, Ireland, in Q2 2025. 

• Secured a new partner, EB Now, with 15 clients now live on the platform. 

• Pay & Reward secured a significant number of new wins, including De Beers, FSCS and B&Q and launched a new Digital offering, Pathfinder, with initial sales orders at the end of Q4 2025.

• Entered 2026 with strong momentum, well positioned to capture the growth opportunities in an expanding market and deliver further progress towards the Group's strategic aspirations.
   
• The strength of the Group's balance sheet, power of its offerings, growth of its recurring revenue streams and depth of its senior leadership team provide the Board with confidence in continued progress in the year ahead and continued progression towards the Group's 2030 aspirations of delivering £100m revenue, £30m EBITDA and £20m SaaS ARR.

Paula Constant, Chief Executive of Personal Group, commented: "It's been a brilliant year of progress for the Group, with double-digit growth, adjusted EBITDA ahead of market expectations and continued high retention levels of over 80%. Insurance sales delivered another record year, driven by the strength of our face-to-face model and improved operational grip, and Benefits & Rewards saw growing levels of ARR and new and expanded partnerships.

Against a backdrop of increasing cost-of-living pressures, high levels of workforce illness and ongoing challenges for employers to attract and retain employees, our Insurance and Benefits offerings are more relevant than ever, and we are proud at Personal Group to deliver products that have such meaningful impact.

We have entered 2026 with momentum and a laser focus on further delivering across our strategic pillars of Adoption, Expansion, Innovation and Partnering, supported by a strong balance sheet and growing levels of recurring revenues."