28th Aug 2024 18:04
PensionBee Group PLC - London-based online pension provider - Assets under administration at June 30 half-year end rise 40% on-year to GBP5.2 billion from GBP3.7 billion, "driven by strong net flows from new and existing customers and supportive markets". Revenue improves 41% to GBP15.4 million from GBP10.9 million a year earlier. Pretax loss narrows to GBP3.8 million from GBP9.2 million. "Leveraging the deep knowledge and expertise gained from successfully building and growing our UK business, we are now creating a global leader in the retirement market. We have entered the US market, the world's largest defined contribution pension market, expanding the reach of our award-winning customer proposition, innovative technology platform and unique marketing approach to millions of Americans, many of whom also struggle to prepare adequately for retirement as they navigate a complex and confusing pensions landscape," Chief Executive Romi Savova says.
Current stock price: 168.00 pence
12-month change: up more than double from 71.00p
By Eric Cunha, Alliance News news editor
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