XPS Pensions annual revenue up 18%, third year of double-digit growth
XPS Pensions Group PLC on Wednesday said revenue rose in financial 2025, marking its third consecutive year of double-digit growth, as it highlighted strong demand across its core services and reiterated confidence in delivering full-year results in line with upgraded expectations.
The Reading, England-based pensions consulting and administration company said total revenue for the year ended March 31 was up 18% year-on-year, driven by regulatory tailwinds, inflation-linked contracts, and resilient recurring revenue streams.
In financial 2024, XPS reported a revenue of £196.6 million, up 21% from £162.3 million in financial 2023.
Administration revenue jumped 30% year-on-year, benefiting from underlying growth and rectification projects linked to the McCloud judgment.
XPS noted that while the McCloud-related work is winding down following a March 31 deadline, the core Administration business continued to grow at a double-digit pace, positioning the company for ‘further opportunities’ in both the private and public sectors.
The McCloud judgment is a 2018 UK court ruling that found the government’s 2015 public sector pension reforms unlawfully discriminated against younger workers. As a result, affected pension schemes must now rectify member benefits.
SIP, or self-invested pensions, revenue rose 15%.
Within its Advisory segment, Actuarial Consulting revenue rose 14%, while Investment Consulting declined 4%, following growth of 46% over the past two years. Overall Advisory revenue grew 10%.
XPS also completed the acquisition of Polaris Actuaries and Consultants Ltd in February, a move it said would accelerate its expansion in the fragmented UK insurance consulting market.
Co-Chief Executive Officer Paul Cuff said: ‘We are pleased to deliver another year of double-digit revenue growth. There has been strong demand for our services, as clients have needed support to respond to market and regulatory changes.’
XPS will report full-year results on June 19 and host a capital markets event on May 13 in London.
Shares in the company were down 3.9% at 377.37 pence in London at midday on Wednesday.
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