REG - XPS Pensions Group - Post-close Trading Update

XPS PensionsAnnouncement

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RNS Number : 5535D  XPS Pensions Group PLC  16 October 2025

16 October 2025

 

 

XPS Pensions Group plc

 

Post-close trading update

 

Continued strong revenue growth, Polaris integrating well and creating
opportunities in Insurance

 

 

XPS Pensions Group plc ("XPS" or the "Group") is pleased to provide its
post-close trading update (unaudited) for the six months ended 30 September
2025 ahead of announcing its half year results on 20 November 2025.

 

Trading update

 

The Group has continued to perform strongly with revenues growing 13%,
including organic growth of 8%, which is particularly pleasing given the very
strong performance in the prior year first half. This builds on exceptionally
strong aggregate revenue growth of 67% over the last three financial years.

Within this, Advisory revenues grew 18% year on year, with healthy growth
across all service lines.  Administration revenues grew 6% despite the
significant revenues from the McCloud remedy project rolling off, whilst SIP
revenues grew 10% year on year.

Strong demand from ongoing regulatory change, new client wins in all service
lines and project wins in Risk Transfer, Insurance Consulting and
Administration, continue to drive strong Group revenue growth.

Polaris Actuaries and Consultants Limited ("Polaris") which was acquired on 28
February 2025 has integrated well and the business is performing in-line with
our expectations. We have been particularly pleased with the success in
cross-referrals and in winning mandates to deploy broader XPS capabilities
into large insurers.

Pensions Act 2025 is the most significant regulatory change of recent times.
Among other provisions, it proposes to enable well-funded defined benefit
schemes to access surpluses to be deployed for the benefit of members and the
sponsoring companies.  This will drive additional consulting demand with
regards to the best and most appropriate long-term strategy for the schemes.
Whilst many large schemes are considering the run-on route, we continue to see
strong demand for Risk Transfer: with either route requiring continued
consulting support which XPS is well placed to provide.  In addition to these
two drivers of growth for the Group, other opportunities in FY26 and beyond
include continued growth in Insurance Consulting and Administration in both
the private and public sector.

With strong revenue growth and disciplined cost management, the Board is
confident of achieving full year results in line with its previous
expectations.

Paul Cuff, Co-CEO commented:

"The pensions industry continues to be a very busy place at the moment.  Our
clients have a wide range of opportunities in front of them to achieve great
things for the members and sponsors of their pension schemes, and we are proud
to be supporting them on the development and implementation of their
strategies.

We have also been very pleased with the successful integration of our Polaris
acquisition, which has boosted our capability to support insurance companies
with the challenges and opportunities they are facing too, and it has been
brilliant to see joint XPS and Polaris teams combining to provide excellent
service to clients in this area."

 

 

-Ends-

 

 

 

 

For further information, contact:

 

Enquiries:

 XPS Pensions Group
 Snehal Shah, Chief Financial Officer  +44 (0)20 3978 8626

 Canaccord Genuity (Joint Broker)      +44 (0) 20 7523 8000
 Adam James
 George Grainger
 Deutsche Numis (Joint Broker)          +44 (0)20 7260 1000
 Stuart Skinner
 Kevin Cruickshank
 Media Enquiries
 Camarco
 Gordon Poole                          +44 (0)20 3757 4980; xps@camarco.co.uk
 Rosie Driscoll

 Phoebe Pugh

 

Notes to Editors:

 

XPS Group is a leading UK consulting and administration business specialising
in the pensions and insurance sectors. A FTSE 250 company, XPS combines
expertise and insight with advanced technology and analytics to address the
needs of over 1,400 pension schemes and their sponsoring employers on an
ongoing and project basis. We undertake pensions administration for over one
million members and provide advisory services to schemes and corporate
sponsors in respect of schemes of all sizes, including 83 with assets over
£1bn. We also provide wider ranging support to insurance companies in the
life and bulk annuities sector.

 

 

 

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