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Pensions and SIPP agency XPS Group has reported a 23% progress in revenues to £94.5m for the most recent half 12 months.
The corporate, which offers pension consultancy, administration and SIPPs and SSAS, reported robust progress in its core divisions in its first half ending 30 September.
The agency stated it had seen excessive ranges of consumer exercise, new wins, inflationary charge will increase and the advantages of bolt on M&A.
Adjusted EBITDA (a measure of revenue) was £22.7m (up 28% YoY) regardless of inflationary pressures within the agency’s price base as a consequence of funding in individuals and know-how.
XPS stated it had seen an eighth consecutive half 12 months of 12 months on 12 months progress in revenues throughout advisory and administration.
The very best YoY progress was in Pensions Actuarial and Consulting revenues (up 29% YoY).
There was additionally continued robust progress in funding consulting revenues (up 26% YoY) and pensions administration income (up 16% YoY).
Self Funding Pensions revenues elevated 23% YoY as a consequence of financial institution base price will increase and progress in underlying gross sales, XPS stated.
The agency has a complete of 6,633 energetic SIPP and SSAS plans (up 138 on the earlier half 12 months). It manages 1,684 SSAS plans and 4,949 SIPP plans. Reported income from the self invested plan division is £5.415m.
The typical XPS SSAS scheme has £1.5m invested and the typical SIPP scheme has £590,000 invested.
The interim dividend was 3.0p (2022: 2.7p) per share declared.
The board says it’s assured of attaining total full 12 months outcomes forward of its earlier expectations.
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