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XPS Pensions expects to meet upgraded full-year expectations
(Sharecast News) - XPS Pensions told shareholders to expect another strong showing for the full-year, in line with previously upgraded expectations. The UK consulting and administration business specialising in the pensions sector said sales grew by 18% over the year ending on 31 March.
"As in previous years, ongoing regulatory change, new client wins, and the inflation-linkage of our contracts, combined with the resilience and predictability of our business model, has driven our robust financial performance," the company said.
Advisory sales were up by 10%, Administration revenues by 30% and SIP revenues by 15%, the company said in a post-close trading update.
XPS also announced the completion of its acquisition of Polaris Actuaries and Consultants Limited on 28 February.
Expectations were that the purchase would accelerate its strategy of becoming a leading player in the fragmented UK Insurance Consulting market.
The group was scheduled to hold a Capital Markets Event on 13 May.
As of 1427 GMT, shares of XPS Pensions were trading down by 4.33% to 375.50p, but remained within striking distance of their record highs.
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