REG - XPS Pensions Group - Trading update

XPS PensionsAnnouncement

14/02/2025 07:15

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RNS Number : 0946X  XPS Pensions Group PLC  14 February 2025

14 February 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

 

XPS Pensions Group plc

 

Trading update

 

A strong finish to the year, performance anticipated to be materially ahead of
expectations

 

XPS Pensions Group plc ("XPS" or the "Group") is pleased to provide an
unscheduled trading update (unaudited) for the year ending 31 March 2025.

 

Trading update

 

The Group has continued to perform strongly, and the Board now expects
revenues for the full year to be in the range of £226 million - £229
million, representing YoY growth of 15% - 16%.

High levels of demand for our services from continued regulatory change, new
clients, and the inflation-linkage of our contracts, combined with the
resilience and predictability of our business model has driven a strong
performance for the year.  Growth drivers in the year include GMP
equalisation, rectification projects following the McCloud judgement, and the
impact of new business wins in the Risk Transfer market.

Costs have been managed well, and our investments in technology are enabling
increasingly efficient delivery of project work.  As such the Board expects
operational gearing to have improved and full year results to be materially
ahead of previously upgraded expectations.

Workplace pensions remain high on the agenda with further regulatory changes
expected later this year stemming from recent Government announcements. We
remain confident that our expectations of continued strong performance in FY
26 and beyond remain well underpinned.

The Group's full year results are expected to be released on 19 June 2025.

 

Paul Cuff, Co-CEO commented:

"We are pleased to be on course for another year of strong financial
performance.  There has been strong demand for our services, as clients have
needed support to respond to market and regulatory changes.  At the same time
as achieving strong growth, we have been delighted with the results of our
annual client survey, which were extremely positive.  At XPS our culture is
at the heart of what we do, and I would like to thank all our people for the
way they support each other and our clients."

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

-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
 Rosie Driscoll

 Phoebe Pugh

The person responsible for making this announcement is Zoe Adlam (Company
Secretary)

 

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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