Personal Group has successfully transitioned 40% of its clients to its new digital benefits platform, Hapi 2.0.
- This transition has paved the way for further growth, spurring the company to increase its interim dividend by 11%.
- Revenues for the first six months rose by 14% to £21 million, driven by increased adoption of the benefits platform.
- CEO Paula Constant highlighted the modular nature of Hapi 2.0, which is designed to meet specific client needs.
- The firm is eyeing potential acquisitions to enhance its digital capabilities and support systems.
Personal Group has made significant strides in the adoption of its new digital benefits platform, Hapi 2.0, with 40% of its clients already migrated. The migration is anticipated to reach completion with a full 100% transition by the year’s end. Such achievement not only reflects the platform’s allure but also its potential to bolster the company’s market position.
This strategic migration has enabled Personal Group to announce an 11% increase in its interim dividend, rising to 6.5p. The enhanced dividend is a testament to the company’s robust financial health and future growth prospects, anchored by the successful platform transition. Chief Executive Officer Paula Constant has expressed confidence in the platform’s scalability and ability to customise according to diverse client requirements.
The company’s financial performance underscores the success of its digital strategy, with a marked 14% increase in revenues for the first half of the year, reaching £21 million. Significantly, annual recurring revenues from the platform have elevated by 15%, illustrating strong client engagement and satisfaction.
Paula Constant emphasised the transformative nature of the Hapi 2.0 platform: “We are not a Sellotape and string version of a benefits platform and this new upgrade will help us scale our growth.” The modular design of the platform is aimed at addressing specific client needs while allowing for scalability and adaptability.
Looking forward, Personal Group intends to deepen its digital footprint by pursuing strategic acquisitions. As Constant noted, these acquisitions are expected to enhance their existing benefits systems, including support for children and childcare. The firm is keen on integrating face-to-face models with digital tools to meet evolving client demands.
The successful transition to the Hapi 2.0 platform and subsequent dividend increase signal Personal Group’s robust market strategy and future expansion plans.
