XPS Pensions Group, the recently enlarged SIPP, pensions and consulting business, has reported total revenue for the 12 months to March increased by 27% from £52m the previous year to £66m.
The company, formed by a merger of SIPP provider Xafinity and a Punter Southall business, said its Xafinity business traded well with strong H2 performance providing annual annual growth of 4.4%.

Total pre-tax profit increased to £5m against a loss in 2017 of £13.2m.

The figures include the business acquired from the Punter Southall Group and amounts to revenue of £12.9m and profit before tax of £3.4m as well as the operating results for the HR Trustees business up to January 2018 when it was sold to the Punter Southall Group.



During the year the group completed the acquisition of the actuarial consulting, pensions administration and investment consulting businesses of Punter Southall Group Limited for £159m in January 2018.

The acquisition created the largest ‘purely pensions’ consulting and administration firm in the UK, according to XPS.

Xafinity’s HR Trustees business, which had a conflict of interest with the wider group, was sold to PS Group as part of the deal.

The company announced in May that it was rebranding, changing its name from ‘Xafinity plc’ to ‘XPS Pensions Group plc’.

Ben Bramhall, co-CEO of XPS Pensions Group, said: “The company’s financial performance in the 12 months to 31 March 2018 has been very pleasing, with revenues experiencing an encouraging rise at an increasing rate, driven both by organic growth and the completion of the acquisition in January 2018.