Personal Group Holdings, a provider of workforce benefits and services, has released its interim results for the six months ended June 30, 2025.
The company reported double-digit revenue growth, record insurance sales and a sharp rise in profitability, reflecting the impact of its refined strategy introduced at the end of 2024.
Revenue rose 11% to £23.3 million, up from £21.0 million in the same period last year. Adjusted EBITDA increased 42% to £5.5 million, while profit before tax jumped 68% to £3.8 million.
Basic earnings per share climbed to 9.6 pence, a 78% increase year-on-year. The company also generated £4.0 million in cash from operating activities and ended the half with £26.9 million in cash and deposits, with no debt.
Insurance continued to be a key growth driver. Annualised premium income rose 12% to £38.0 million, while new annualised insurance sales increased 6% to £7.4 million. Retention rates remained above 80%, underlining customer stickiness in what remains a competitive employee benefits market. Personal Group said these results mark another record period for insurance sales, building on the momentum established in 2024.
Recurring revenues, a core part of the group’s strategy, grew 12% to £45.7 million. This included £6.9 million in annual recurring revenue from its Benefits Platform and £760,000 from Pay & Reward services. Partnerships also expanded during the period, including a renewed and extended deal with Sage Group, which has already launched in Ireland, and a new partnership with EB Now, expected to go live in the second half.
The company increased its interim dividend by 26% to 8.2 pence, citing confidence in its performance outlook and recurring revenue base.
Chief executive Paula Constant said the results reflected the relevance of Personal Group’s offering at a time when employers are more focused on employee insurance and wellbeing benefits. She added that the group remains on track to achieve its 2030 ambitions of at least £100 million revenue, £30 million EBITDA, and £20 million in SaaS recurring revenue.
Personal Group’s strong performance in insurance comes at a time when employee benefits providers are competing to capture growing demand from employers seeking to improve workforce resilience and retention.
Larger players such as Unum and MetLife have also highlighted rising interest in workplace protection products, particularly in life and income protection insurance. Personal Group’s ability to deliver record insurance sales while growing recurring revenues gives it a strong position in the mid-market, where employers are increasingly seeking affordable and bundled benefit solutions.
