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:
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XPS
Pensions Group
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Snehal Shah, Chief Financial
Officer
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+44 (0)20 3978 8626
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Canaccord Genuity (Joint Broker)
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+44 (0) 20 7523 8000
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Adam James
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George Grainger
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Deutsche Numis (Joint Broker)
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+44 (0)20 7260
1000
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Stuart Skinner
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Kevin Cruickshank
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Media Enquiries
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Camarco
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Gordon Poole
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+44 (0)20 3757 4980
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Rosie Driscoll
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Phoebe Pugh
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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.
