Personal Group Holdings, a London-listed provider of employee services, has announced its confidence in achieving market expectations for its 2023 trading performance. The company has reported a noteworthy increase in revenue and adjusted earnings for the first half of the year.
For the six months ended June 30, Personal Group Holdings recorded adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of £2.7 million ($3.5 million), compared to £1.5 million in the same period last year. This positive growth can be attributed to the company's focus on voucher resales through its benefits platform, which has led to an increase in revenue from £34.7 million to £46.4 million.
The significant rise in recurring revenue further enhances the company's visibility for the second half of the year and extends into 2024. This strong foundation sets Personal Group Holdings on a promising path.
In line with its plans for the future, Personal Group Holdings has made leadership changes. Paula Constant, previously named as the incoming CEO in May, will take on the role of CEO designate immediately. Deborah Frost will step down from her position and resign from the board on August 1, eventually leaving the company on December 31.
Reflecting on her time at Personal Group Holdings, Deborah Frost expressed her confidence in the future success of the business. She believes that the company is well-positioned to continue delivering impressive financial results.
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