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: 404.00
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
Spread: 1.00 (0.251%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 404.00
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
27 Jan 2022 16:12

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
30 Dec 2021 16:05

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
23 Dec 2021 18:00

IN BRIEF: XPS Pensions in GBP3.8 million deal for Michael J Field

IN BRIEF: XPS Pensions in GBP3.8 million deal for Michael J Field

Read more
25 Nov 2021 12:25

TRADING UPDATES: Interim profit jumps from XPS Pensions, James Latham

TRADING UPDATES: Interim profit jumps from XPS Pensions, James Latham

Read more
18 Nov 2021 16:17

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
10 Nov 2021 14:46

TRADING UPDATES: Halfords ups annual guidance; XPS strikes BT deal

TRADING UPDATES: Halfords ups annual guidance; XPS strikes BT deal

Read more
10 Nov 2021 10:54

SMALL-CAP WINNERS & LOSERS: Halfords on fast track after guidance lift

SMALL-CAP WINNERS & LOSERS: Halfords on fast track after guidance lift

Read more
14 Oct 2021 12:29

TRADING UPDATES: Norcros and Braemar Shipping confident in outlook

TRADING UPDATES: Norcros and Braemar Shipping confident in outlook

Read more
16 Sep 2021 16:04

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
31 Aug 2021 15:22

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
19 Aug 2021 16:03

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
29 Jun 2021 14:31

DIRECTOR DEALINGS: Aston Martin non-exec buys GBP575,000 in shares

DIRECTOR DEALINGS: Aston Martin non-exec buys GBP575,000 in shares

Read more
24 Jun 2021 11:37

TRADING UPDATES: Alpha Financial and James Latham hike dividends

TRADING UPDATES: Alpha Financial and James Latham hike dividends

Read more
17 Jun 2021 16:02

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
23 Apr 2021 11:34

XPS Pensions expects annual showing to meet market expectations

XPS Pensions expects annual showing to meet market expectations

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.