XPS Pensions Group PLC (XPS.L), a UK consulting and administration business specializing in the pensions and insurance sectors, Wednesday said its revenue from continuing operations for the first half increased 23 percent from last year driven by growth in almost all segments.
In Pensions Actuarial Consulting division, revenue increased 17 percent year on year, while in Pensions Investment Consulting revenue declined 2 percent. Overall, advisory revenue rose 14 percent.
In Pensions Administration division, revenue was up 40 percent year on year, and in SIP, revenue growth was 13 percent.
"Regulatory change continues to support client demand...Many pension scheme sponsors and trustees are considering their long-term strategy, with the option of "run on for surplus" gaining increasing traction particularly for larger schemes. Against this backdrop we expect to see continued demand for the Group's advisory services. We see continued opportunities for growth in Pensions Administration with the onboarding of recent large new client wins and high demand for project work in both the private and public sectors," XPS said in a statement.
Looking ahead, the company said it is confident in achieving full-year results ahead of its previous expectations.
First-half results are scheduled to be reported on November 21.
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