XPS Pensions Group continues hot streak with record results

Pensions consultancy XPS Pensions Group has toasted another year of record growth.

The group, which is the UK’s largest publicly listed pension consultancy, reported a healthy jump in profit before tax of 37 per cent, from £32.4m to £44.5m, excluding its National Pension Trust arm, which it sold in November 2023.

Revenue also jumped 21 per cent in the year ended 31 March, rising to £196.6m, with much of the growth being driven by its administration arm.

Diluted earnings per share rose 24 per cent to 15.1 per cent.

Consequently the firm, which earlier this month was admitted into the FTSE 250 for the first time, was able to announce a final dividend of 7p, meaning its total dividend for the year rose 19 per cent to 10p.

Paul Cuff, XPS Pensions Group’s co-CEO, said: “We are delighted to announce another year of record growth, encompassing multiple financial upgrades during the period. 

“Our prior year was strong too, so to carry on our positive momentum and achieve total group revenue growth of 21% is really pleasing.  It is also great that this was achieved with double digit growth in every one of our core divisions – actuarial, investment consulting, administration, and our SIP business.”

The bumper results represent a seventh consecutive year of revenue growth, helped by the firm’s landmark appointment by John Lewis to provide administrative services to its pensions trust.

The firm said its outlook remained healthy, citing a healthy new business pipeline and further scope for growth given the size of the market in which it operates.

Cuff said of joining the FTSE 250: “It is a very proud milestone for us, achieved through the hard work of our colleagues and the support of our clients and shareholders.”