A final dividend of 4.8p is being proposed by the XPS Pensions Group Board (FY 2021: 4.4p). The final dividend, if approved, which amounts to £9.7 million (FY 2021: £9.0 million), will be paid on 22 September 2022 to those shareholders on the register on 26 August 2022.
Other financial highlights include:
Strong performance across the Group with highest level of YoY organic growth since listing:
o Total Group Revenue up 8% to £138.6 million, driven by higher levels of client activity
o Adjusted EBITDA up 7% YoY, broadly in line with revenue growth
Advisory revenue growth of 7%:
o Robust growth in Pensions Actuarial & Consulting with strong levels of client demand and GMP equalisation projects gaining momentum (+5% YoY)
o Strong double digit growth in Pensions Investment Consulting revenues (+18% YoY)
Pensions Administration revenue grew 9% YoY driven by new client wins and ongoing project work
SIP revenues up 9% with strong underlying sales
NPT revenues up 34% YoY with AUM now over £1.3 billion
Strong balance sheet supported by highly cash generative platform - operating cash-flow conversion of 96%
Net debt/adjusted EBITDA of 1.74x at 31 March 2022 (31 March 2021: 1.74x) - notwithstanding the SIP acquisition as well as capital investment in the business
Statutory profit before tax up 48% YoY
Adjusted diluted EPS up 4% YoY to 10.2p
