IN BRIEF: PensionBee assets rise on ‘strong net flows’; loss narrows

PensionBee Group PLC - London-based online pension provider - Assets under administration at June 30 half-year end rise 40% on-year to £5.2 billion from £3.7 billion, ‘driven by strong net flows from new and existing customers and supportive markets’. Revenue improves 41% to £15.4 million from £10.9 million a year earlier. Pretax loss narrows to £3.8 million from £9.2 million. ‘Leveraging the deep knowledge and expertise gained from successfully building and growing our UK business, we are now creating a global leader in the retirement market. We have entered the US market, the world’s largest defined contribution pension market, expanding the reach of our award-winning customer proposition, innovative technology platform and unique marketing approach to millions of Americans, many of whom also struggle to prepare adequately for retirement as they navigate a complex and confusing pensions landscape,’ Chief Executive Romi Savova says.

Current stock price: 168.00 pence

12-month change: up more than double from 71.00p

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