Check out our new Timeline feature to give you the latest updates on all the stocks you follow. Clickhere to set up your Timeline.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksXps Pensions Share News (XPS)

Share Price Information for Xps Pensions (XPS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 351.00
Bid: 350.00
Ask: 353.00
Change: 0.00 (0.00%)
Spread: 3.00 (0.857%)
Open: 351.00
High: 353.00
Low: 348.00
Prev. Close: 351.00
XPS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

XPS Pensions upbeat on strong half-year trading

Wed, 16th Oct 2024 08:43

(Sharecast News) - XPS Pensions reported strong trading for the six months ended 30 September on Wednesday, with revenue from continuing operations up 23% year-on-year.

The FTSE 250 company said its advisory division saw significant growth, particularly in pensions actuarial consulting, where revenue increased 17%, driven by strong client demand, service expansion, and price adjustments following periods of higher inflation.

In contrast, pensions investment consulting revenue dipped 2%, as demand normalised after two years of rapid growth.

Pensions administration revenue surged 40%, benefiting from significant project work, particularly in the public sector, new client onboarding, and inflation-driven price increases.

The board said the successful transition of clients onto XPS' proprietary Aurora administration platform was expected to enhance future operational efficiency.

It said demand for GMP equalisation services also supported growth across both pensions actuarial consulting and pensions administration.

The SIP business continued to perform well, with revenue growing 13%, driven by increased sales of SIP plans and higher client deposits.

Regulatory changes, including the new funding regime for defined benefit schemes that came into effect in September, also bolstered demand for the group's advisory services, particularly as pension schemes explored long-term strategies like 'run on for surplus'.

Looking ahead, XPS said it expected continued demand for its services, especially in pensions administration, with new client wins and ongoing project work in both the private and public sectors.

The board said it remained confident that the group would deliver full-year results ahead of its previous expectations.

"We are pleased to be on course for another strong financial performance for the year," said co-chief executive officer Paul Cuff.

"We have seen good growth as we have responded to high client demand, including in areas that we have invested in over recent years such as our risk transfer advisory capability and in public sector administration."

Cuff said the company grew strongly in the two prior years, adding that to achieve further like-for-like growth of over 20% in addition to that was "very pleasing".

"We have achieved this with an award-winning culture and I would like to thank all our people for the way they support each other and our clients."

At 1049 BST, shares in XPS Pensions Group were up 9.42% at 337p.

Reporting by Josh White for Sharecast.com.

More News
22 Mar 2023 11:09

XPS Pensions shares up as guides for higher annual revenue

(Alliance News) - XPS Pensions Group PLC shares jumped on Wednesday, after it said it expects revenue to be ahead of market expectations, boosted by its Advisory and Risk Transfer arms.

Read more
22 Mar 2023 09:41

SMALL-CAP WINNERS & LOSERS: XPS Pensions guides higher annual revenue

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

Read more
22 Mar 2023 09:06

XPS Pensions lifts full-year revenue expectations

(Sharecast News) - XPS Pensions said on Wednesday that full year-revenues were set to be ahead of consensus expectations following a strong end to the year.

Read more
22 Mar 2023 08:49

LONDON MARKET OPEN: Stocks red as UK inflation stays in double-digits

(Alliance News) - Stock prices in London opened lower on Wednesday, but the pound was on the rise, after inflation in the UK came in hotter than expected in February, remaining in double-digits.

Read more
26 Jan 2023 15:44

UK dividends calendar - next 7 days

Read more
29 Dec 2022 13:41

UK dividends calendar - next 7 days

Read more
30 Nov 2022 11:09

SMALL-CAP WINNERS & LOSERS: Petra sees "low risk" of further breaches

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

Read more
30 Nov 2022 10:46

IN BRIEF: XPS Pensions makes Alan Bannatyne chair on permanent basis

XPS Pensions Group PLC - Reading, England-based pensions consulting and administration firm - Announces appointment of Alan Bannatyne as permanent chair, effective today. Bannatyne served as interim chair from September 8. Has been on the board since 2017. Company says "a robust selection process and consultation of major shareholders was completed". Notes Bannatyne also serves as chief financial officer at Robert Walters PLC.

Read more
24 Nov 2022 12:52

EARNINGS UPDATES: Motorpoint's interim profit plunges amid challenges

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
17 Nov 2022 15:50

UK earnings, trading statements calendar - next 7 days

Read more
20 Oct 2022 21:54

TRADING UPDATES: XPS Pensions revenue up; IG Design performing ahead

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
21 Sep 2022 14:48

XPS Pensions buys Penfida; outlook lifted above previous guidance

(Alliance News) - XPS Pensions Group PLC on Wednesday said it bought Penfida Ltd, a corporate finance and covenant advisor to UK pension funds, as it also issued a trading update.

Read more
15 Sep 2022 15:57

UK dividends calendar - next 7 days

Read more
6 Sep 2022 15:40

EXECUTIVE CHANGES: Amte Power hires new CEO as founder shifts role

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:

Read more
1 Sep 2022 15:56

UK shareholder meetings calendar - next 7 days

Read more

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.