XPS Pensions Group (XPS) Trading update summary

Financial performance

• Achieved 13% revenue growth year-on-year, with organic growth at 7%, building on a strong prior year.

• Group revenues rose 18% after adjusting for the prior year's McCloud remedy project, with organic growth of 12%.

• Aggregate revenue growth exceeded 100% over the last five financial years.

Business segment highlights

• Core Advisory, including Insurance Consulting, grew 20% and now represents 57% of total revenue.

• Administration segment increased 5%, accounting for 38% of revenue, despite a high prior-year comparator.

• SIP segment delivered its fourth consecutive year of double-digit growth, up 10%.

• Revenues from insurers tripled, now making up 10% of group revenue, aided by the Polaris acquisition.

Strategic and market developments

• New client and project wins across all service lines, including Risk Transfer, Insurance Consulting, and Administration.

• Regulatory changes and surplus extraction opportunities continue to drive strong demand.

• Inflation-linked contracts provide a structural benefit.

• The Polaris acquisition is contributing to group performance and expanding capabilities.