Last checked at 
(Alliance News) - XPS Pensions Group PLC on Thursday said it has continued to "perform strongly", with revenue from continuing operations up on a yearly basis.
For the financial year that ended March 31, the Reading, England-based pensions consulting and administration services provider reported 20% revenue growth from current operations.
It expects to publish full-year results on June 20.
Within this, Pensions Actuarial Consulting revenue also grew 20% from a year prior. Pensions Investment Consulting revenue grew 13%, Administration revenue by 24%, and SIP revenue by 17%.
XPS Pensions said high levels of demand, as well as new clients and the inflation linkage of its contracts, had driven this "robust performance".
As a result of effective cost management and improved operational gearing, the board said it is confident of achieving full-year results ahead of its own previously upgraded expectations.
"We have seen good growth across all our lines of business, as we have responded to strong client demand including in areas that we have invested in over recent years such as our risk transfer advisory capability. We grew strongly in the prior year too, so to achieve further like-for-like growth of 20% on top of that is very pleasing," said Co-Chief Executive Officer Paul Cuff.
For financial 2023, XPS Pensions booked revenue of GBP166.6 million, up 20% from GBP138.6 million the year before, resulting in a 13% increase in pretax profit to GBP19.1 million from GBP16.9 million.
XPS Pensions shares were trading 7.8% higher at 252.30 pence each in London on Thursday morning.
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
