Advertisement

Personal Group lands second largest ever deal

Employee benefits provider Personal Group has won the tender to provide its services to the UK railway infrastructure operator Network Rail.

Employee benefits provider Personal Group has won the tender to provide its services to the UK railway infrastructure operator Network Rail.

Personal will provide employee benefits to Network Rail's 35,000 employees across the UK from the third quarter of the current year.

Chief Executive Mark Scanlon reported that the win was one of the largest tender wins in the company's 29 year history, coming two years after its biggest win.

Advertisement - Article continues below

Scanlon, who was appointed in 2011 with a brief of taking the business to the next stage of growth as the founding directors retired, attributed the win largely to the newly formed commercial team, led by recently appointed Commercial Director David Walker, formerly Sales Director at Dyson.

Winning the tender does not have any immediate effect on the company's finances, but instead wins Personal the right to sell the benefits to each individual employee over what Scanlon said would be a two-year roll-out process.

Scanlon stressed that the Network Rail sales programme will make use of Personal's recently launched iPad application, which has so far produced very positive results for the sales team in face-to-face meetings.

"And not too far away in the future we want to make our database and website available to customers on their mobile phones."

Scanlon said the commercial team was focused on winning other new business and more from existing customers as it looked to continue to build on "the successful first quarter that has already been achieved".

Shares in Personal Group were up 1.9% at 395p at 16:30 on Monday.

OH

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/commodities/gold/601587/bullish-gold-price-cup-and-handle-chart-pattern
Gold

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020
Visit/economy/global-economy/601579/how-pent-up-demand-could-drive-a-v-shaped-economic-recovery
Global Economy

How “pent-up demand” could drive a V-shaped economic recovery

“Pent-up demand” is usually a myth. But not this time. The Covid lockdown has created genuine pent-up demand, says Merryn Somerset Webb. That’s now be…
29 Jun 2020