Personal Group disappoints investors
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The share price of AIM-listed employee services firm Personal Group (LON:PGH) fell by 6.04% to 427.50p (as of 14:30 GMT) despite overall trading for the 12 months ended 31st December being roughly in line with the prior year. However, the coming political and macroeconomic challenges have led the company to make conservative performance estimates for the current financial year and suggest that profitability will not materially increase.
Chief Executive Mark Scanlon said: “Despite challenges in 2018 the Company has traded broadly in line with expectations. While the current economic and political conditions inevitably bring a greater level of business uncertainty, which we have seen evidenced through slower decision making on the part of our customers, the Board remains cautiously optimistic that we can continue to progress our business in the year ahead. Our search for my successor is progressing well and we hope to make further communications soon.“
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