XPS Pensions Group (XPS) Trading Update summary

Trading performance and revenue growth

• Achieved 18% year-on-year revenue growth, marking a third consecutive year of double-digit increases.

• Advisory revenues rose 10%, with Actuarial Consulting up 14% and Investment Consulting down 4% after strong prior growth.

• Administration revenues surged 30%, supported by rectification projects and underlying double-digit growth.

• SIP revenues increased 15% year-on-year, contributing to overall robust performance.

• Board remains confident of meeting full-year results in line with upgraded expectations.

Strategic initiatives and acquisitions

• Completed acquisition of Polaris Actuaries and Consultants Limited in February 2025.

• Polaris acquisition accelerates strategy to become a leading player in the UK Insurance Consulting market.

• Ongoing regulatory changes, new client wins, and inflation-linked contracts underpin growth.

• Growth drivers for FY26 and beyond include GMP equalisation, Risk Transfer, and further administration opportunities.

Market position and outlook

• Entered the FTSE 250 in summer 2024, marking a significant milestone.

• Strong demand for services as clients respond to market and regulatory changes.

• Hosting a Capital Markets Event on 13 May 2025 to discuss Risk Transfer, Life Insurance Consulting, and Technology investment.

• Culture and people highlighted as central to ongoing success and client support.