14th Feb 2025 10:10
(Alliance News) - XPS Pensions Group PLC shares jumped on Friday as it said expects its full-year results to be "materially ahead of expectations" after a strong finish to the year.
Shares in XPS were up 11% to 385.00 pence in London on Friday morning.
The Reading, England-based pensions consulting and administration firm said it expects revenue in the 12 months to the end of March 2025 to be in the range of GBP226 million to GBP229 million, representing growth of at least 15% from GBP196.6 million in the previous year.
The company said strong performance had been driven by high demand due to regulatory change, new clients and the inflation-linkage of contracts,
It said costs have been "managed well" and technology investments are improving efficiency.
Workplace pensions are high are on the UK government's agenda, XPS noted, and it expects further regulatory changes later this year.
The company is confident in continued strong performance into the next financial year and beyond.
Co-Chief Executive Officer Paul Cuff said: "We are pleased to be on course for another year of strong financial performance. There has been strong demand for our services, as clients have needed support to respond to market and regulatory changes."
By Michael Hennessey, Alliance News reporter
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