XPS Pensions Group plc has recommended a final dividend of £17.0 million, or 8.2p per share (2024: £14.6 million, or 7.0p per share), payable in respect of the year ended 31 March 2025.
The proposed dividend has not been accrued as a liability as at 31 March 2025 as it is subject to approval at the Annual General Meeting.
The Trustee of the Xafinity Employee Benefit Trust has waived its entitlement to dividends.
The Company statement of changes in equity shows that the Company has positive reserves of £183,236,000. Therefore, there are sufficient distributable reserves in XPS Pensions Group plc in order to pay the proposed final dividend.
Other financial highlights:
- Revenue +18% excluding NPT (+17% organic), third consecutive year of double digit growth driven by continued strong client demand
- Adjusted EBITDA +27% with margin of 30.1% (FY 2024: 27.9%), benefitting from efficient use of technology such as Aurora and some one-off impact of higher margin project work
- Advisory revenues grew 10% with Actuarial and Consulting up 14% driven by continued growth in risk transfer and GMP projects whilst Investment Consulting revenues were down 4% as activity levels normalised having grown 46% over the previous two years
- Administration revenues grew 30% YoY with GMP, on boarding of new client wins and one-off McCloud remedy projects contributing to strong growth
- SIP revenues grew 15% with strong underlying sales
- Strong balance sheet supported by highly cash generative platform - operating cash-flow conversion of 96% (FY 2024: 104%)
- Net debt/adjusted EBITDA of 0.57x at 31 March 2025 following Polaris acquisition (31 March 2024: 0.27x) well below target range of 1.0x - 1.5x
- Statutory profit before tax down 35% YoY. Excluding the impact of the NPT disposal in the prior year, profit before tax was up 36%
- Adjusted diluted EPS up 36%
