Research on Personal Group Holdings Plc (PGH:LON) from Capital Access Group
Personal Group combines a UK targeted affordable insurance business operating a unique business model together with a mainly SaaS based Benefits & Rewards business. The re-focused group has ambitious growth aspirations through 2030 targeting revenue of over £100m and generating EBITDA of £30m. Personal Group is growing rapidly with increasing profitability and is now committed to a 100% dividend payout policy. We forecast revenue to hit £55m by 2026 with net profit up 24% to £8.1m and an increased dividend, up almost 60% to 25.9p from 2024 with adjusted EBITDA up 40% to £14.0m. We believe that fully justifies the strong share price performance which still does not do justice to the full value potential of the group.