XPS Pensions Group PLC on Thursday upped its dividend on strong profit and revenue growth in financial 2022, due to increased client activity.

XPS Pensions is a Reading, England-based pensions consulting and administration firm.

The company reported a pretax profit of £16.9 million in the year that ended March 31. This reflects a 48% increase from £11.4 million the year before.

This was on revenue growth of 8.4% to £138.6 million from £127.9 million.

XPS cited higher levels of client activity and significant client wins as reasons for its improved performance.

To reflect confidence in its future prospects, the company declared a final dividend of 4.8 pence, with a total dividend of 7.2 pence, up 7.5% from 6.7p.

Looking ahead, XPS expects the demand for its services to remain high.

The company anticipates further client wins and its ‘strong pipeline of opportunities’ to support growth in the coming years.

‘During the year we passed the five year anniversary of listing on the London Stock Exchange, and it is good to reflect on just how far we have come as a business over that period: more than doubling revenues, adjusted earnings before interest, tax, depreciation and amortization and our client base,’ Co-Chief Executive Paul Cuff commented.

‘Our clear strategic vision for the group is to continue our strong growth trajectory across all four of our strategic pillars to become the pre-eminent independent firm in our industry.’

Shares were trading 3.2% higher at 137.80 pence each on Thursday morning in London.

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