XPS Pensions Group announce an interim dividend of 2.4 pence

DividendMax Ltd.

XPS Pensions Group announce an interim dividend of 2.4 pence

An interim dividend of 2.4p has been declared by the Board XPS Pensions Group (2020: 2.3p). The interim dividend amounting to £4.9 million (2020: £4.7 million), will be paid on 3 February 2022 to those shareholders on the register on 7 January 2022.

Other financial highlights include:

High levels of client activity and new business wins drove 10% organic growth in Group revenues to £67.3 million

Advisory revenue growth of 10% comprised:

o Fourth consecutive half year of YoY growth in Pensions Actuarial and Consulting revenues (+7% YoY)

o Continued strong double digit growth in Investment Consulting revenues (+26% YoY)

Pensions Administration revenue growth of 9% YoY driven by new client wins coming on stream and project work

SIP revenues down 3% YoY as expected due to the bank base rate reductions but underlying SIP sales have grown 

NPT assets under management (AUM) up 49% YoY to c.£1.2 billion and combined with recovery in asset prices driving 50% YoY increase in revenues 

Investment in headcount and increases in certain central costs mean adjusted EBITDA of £15.5 million is up 5% YoY

Statutory profit before tax of £7.1m is up 154%, reflecting both the revenue growth as well as an exceptional credit and lower non-trading items during the period (£4.9 million; 2020: £8.5 million)

Net debt/adjusted EBITDA of 1.87x as at 30 September 2021 (2020: 1.78x)

New RCF of £100 million on a four-year term in place to support growth 

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