XPS Pensions Group Plc announce an interim dividend of 3.7p has been declared by the Board (2023: 3.0p), reflecting XPS's progressive dividend policy and their continued confidence in the Group's prospects. The interim dividend amounting to £7.7 million (2023: £6.2 million), will be paid on 7 February 2025 to those shareholders on the register on 10 January 2025.
Other financial hlighlights include:
Strong client demand, increased project work, expansion of services and inflationary fee increases drove 23% growth in Group revenues to £113.4 million
Further improvement in operational gearing with adjusted EBITDA of £30.9 million (+37% YoY)
Tenth consecutive half year of YoY growth in revenues across Advisory and Administration which account for 95% of Group revenues:
o Continued strong growth in Actuarial and Consulting revenues (+17% YoY, all organic)
o Activity levels in Investment Consulting normalising after growth of 48% in previous two years (-2% YoY)
o Administration revenue growth of 40% YoY with high levels of project work particularly for public sector clients
SIP revenues up 12% YoY driven by growth in underlying SIP sales volumes and bank commission from higher client deposits
Adjusted fully diluted EPS was up 53% YoY to 8.9 pence benefitting from strong trading, operational gearing and lower interest costs due to the reduction in debt following the sale of National Pension Trust in November 2023
