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XPS Pensions interim revenues grow, advisory and SIP units lead gains
(Sharecast News) - Consulting and administration business XPS Pensions said on Thursday that it had delivered "continued strong revenue growth" in the six months ended 30 September, leaving it confident of its ability to meet full-year expectations. XPS Pensions said group revenues rose 13% in the first half, including 8% organic growth, building on a three-year run of strong performance that has seen aggregate revenues climb 67%.
Advisory revenues were up 18% year-on-year, with growth across all service lines, while administration revenues rose 6% despite the roll-off of McCloud remedy project income. SIP revenues increased 10% over the same period.
The London-listed firm said demand remained strong across risk transfer, insurance consulting and administration, supported by regulatory change and new client wins. XPS added that Polaris Actuaries, acquired in February, had integrated well and was performing in line with expectations, with cross-referrals helping to secure new mandates from large insurers.
XPS said the Pensions Act 2025 was expected to drive further consulting demand, particularly around surplus deployment and long-term strategy planning for defined benefit schemes. XPS added that it continues to see strong appetite for risk transfer and expects further growth in insurance consulting and administration into FY26 and beyond.
Co-chief executive Paul Cuff said: "The pensions industry continues to be a very busy place at the moment. Our clients have a wide range of opportunities in front of them to achieve great things for the members and sponsors of their pension schemes, and we are proud to be supporting them on the development and implementation of their strategies.
"We have also been very pleased with the successful integration of our Polaris acquisition, which has boosted our capability to support insurance companies with the challenges and opportunities they are facing too, and it has been brilliant to see joint XPS and Polaris teams combining to provide excellent service to clients in this area."
As of 0930 BST, XPS shares were up 1.39% at 351.30p.
Reporting by Iain Gilbert at Sharecast.com
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