StockMarketWire.com - Employee benefits and services provider Personal said it expected its annual earnings to fall amid a broadly flat revenue performance.

Adjusted earnings before interest, tax, depreciation and amortisation for the year through December were expected to be upwards of £9.5 million, down from £11.0 million year-on-year.

Revenue would be broadly in line at around £70 million, with the fall in earnings reflecting a change in revenue mix.

'Following a solid first half performance, we continued to trade robustly for the remainder of 2020, demonstrating the business' ongoing resilience during a most challenging period,' Personal said.

'The company made good strategic progress throughout the year, securing a number of new contracts and strengthening key partnerships.'

Looking forward, Personal said it expected to see a more significant financial impact on both income and profit, as the ongoing Covid lockdown reduced its ability to write new insurance sales.

'We also remain vigilant for the potential impact on the group from any increase in claims,' it said.

'Notwithstanding, there are a number of clear strategic growth opportunities which underpin our confidence in the group's prospects over the medium-term.'

'New client wins will give Personal Group access to a significant number of employees when restrictions are lifted, all of whom will have the ability to apply for group's insurance products, and the partnership with Sage represents an exciting, tangible opportunity to materially grow our target market for employee benefits.'

At 9:30am: [LON:PGH] Personal Group Holdings PLC share price was 0p at 205p



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