XPS Pensions shares jump following strong first-half revenue growth

XPS Pensions Group PLC shares jumped on Thursday, as it said it expects full-year results to come in slightly ahead of expectations after reporting strong revenue growth in the first half.

XPS Pensions shares were up 6.7% to 330.78 pence per share on Thursday morning in London.

The Reading-based pensions consulting and administration business said revenue grew 12% year on year in the six months ended September 30, including organic growth of 11%.

Advisory revenue rose 14% year on year, while administration revenue increased 10% and self-invested personal pension revenue grew 7%.

XPS said ongoing regulatory changes had driven demand for advice, including from pension schemes considering running on to extract surpluses. Activity in risk transfer was also high, with the group supporting both pension schemes and insurance companies. Demand for its insurance consulting services also increased, while new client wins contributed to overall growth.

Austin Professional Resourcing LLP, acquired on July 31, was integrating well and performing in line with expectations, XPS said.

The company expects the Pensions Act 2025, which received royal assent in April, to increase demand for advice as well-funded defined benefit schemes consider whether to run on to release surpluses or pursue an insurer buyout. Surplus release is due to begin in April 2027.

"Strong revenue growth, coupled with continued disciplined cost management and delivery of operating efficiencies, means the Board is confident of achieving full year results slightly ahead of its expectations," XPS said.

The company is due to publish its interim results on November 19.

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