leadf
logo-loader
viewPersonal Group Holdings PLC

Personal Group says publication of full-year 2019 results will be delayed, but expects a beat

The leading provider of employee services in the UK confirmed that its 2019 results are expected to be slightly ahead of market expectations

Offices
With regard to current trading, the group had a strong start to the year with its recently refined strategy showing positive signs

Personal Group Holdings PLC (LON:PGH) has said publication of its preliminary results for the year to 31 December 2019 will be delayed until it receives further advice on timing, following the request of the Financial Conduct Authority (FCA), and the Financial Reporting Council (FRC), for all listed companies to observe a moratorium on publication for at least two weeks.

The AIM-listed leading provider of employee services in the UK, however, confirmed that its 2019 results are expected to be slightly ahead of market expectations, following sign-off by its auditors when permitted.

It also said that, with regard to current trading, the group had a strong start to the year with its recently refined strategy showing positive signs.

READ: Personal Group traded in line in 2019

Personal Group added: “Inevitably, the crisis caused by the Coronavirus will impact future trading and it is difficult to predict both the timing and extent of the impact. 

“Whilst it is expected that the ongoing impact of the virus could have a material negative impact on the Group's EBITDA for 2020, and into 2021, the Group remains confident that its business will still be profitable with a strong balance sheet, positive cash flow and no debt.”

The company pointed out: “The majority of regulatory assets are held in cash and short-term fixed interest rate deposits with no exposure to equities. In addition, the Group benefits from regulatory capital with headroom significantly over and above the minimum requirements.” 

It concluded: “Management are taking action to protect the business and will update investors as soon as possible.”

Quick facts: Personal Group Holdings PLC

Price: 200 GBX

AIM:PGH
Market: AIM
Market Cap: £62.44 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Personal Group Holdings PLC named herein, including the promotion by the Company of Personal Group Holdings PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

FansUnite Entertainment pleased Canada taking a look at allowing single...

FansUnite Entertainment (CSE: FANS- OTCQB: FUNFF) President Darius Eghdami joined Steve Darling from Proactive with news the company is hailing the Canadian government’s decision to introduce legislation that would legalize single-event sports betting in Canada. Eghdami talks about why that...

23 hours, 54 minutes ago

2 min read