A final dividend of 4.3p is being proposed by the XPS Pensions Board (FY 2019: 4.3p). The final dividend, if approved, which amounts to £8.8m (FY 2019: £8.8m), will be paid on 24 September 2020 to those shareholders on the register on 28 August 2020.
Other financial highlights include:
Total revenue growth of 9% driven by significant new client wins as well as the impact of bolt-on acquisitions; organic growth of 5% YoY
Pensions Actuarial and Consulting returned to growth in H2 (+1% YoY) and delivered full year revenues up 4% YoY
Adjusted EBITDA up 2% year on year with costs of operating independently of the discounted TSA and higher employee numbers partially offsetting the benefits of 9% revenue growth
High levels of cash conversion achieved, operating cash-flow conversion of 103% leading to net debt/adjusted EBITDA of 1.98x at 31 March 2020
Statutory profit before tax flat on prior year
Statutory basic EPS down 25% owing to an increase in the enacted corporation tax rate leading to a re-valuation of deferred tax liabilities on acquired intangible assets
Adjusted diluted EPS at 9.8p is flat YoY
Board proposes a final dividend of 4.3p bringing the total dividend for the year to 6.6p
