XPS Pensions Group PLC on Thursday that it had a jump in its yearly profit and revenue, demonstrating the ‘resilient and predictable’ nature of its business.

XPS Pensions, a Reading, England-based pensions consulting and administration firm, said its pretax profit for the year that ended March 31 was up 13% to £19.1 million from £16.9 million the previous year.

Revenue increased by 20% to £166.6 million from £138.6 million.

The company said this was driven by Pensions Actuarial & Consulting, the company’s largest division. This division achieved a 24% growth in revenues, to £77.4 million from £62.2 million in the year before.

Self Invested Pensions revenue was similarly boosted by 54% to £9.4 million from £6.1 million due to strong underlying sales, boosting revenue.

The company also said its record revenue was driven by the scaling up of the company’s platform into high-growth areas following investment in staff, technology, and acquisitions.

Co-Chief Executive Officer Paul Cuff said: ‘It was a very busy year indeed, as we helped our clients to navigate volatile financial markets, including of course the gilts crisis in September and October last year.

‘Our people worked incredibly hard and provided excellent support throughout, and we received fantastic feedback from our clients.’

XPS Pensions said its final dividend increased by 19% to 5.7 pence per share from 4.8p the prior year. This brought the company’s total dividend was up 17% at 8.4 pence for the financial year, against 7.2p the previous year.

XPS Pensions Group said it was confident in delivering against its expectations for the current year, saying that demand for its services remained high and that it has continued to grow its market share.

‘We expect the demand for our services to remain high as we help our clients navigate the complex and evolving regulatory backdrop as well as economic and financial markets,’ said XPS Pensions Group.

Shares in XPS Pensions were up 2.1% at 174.00 pence in London on Thursday morning.

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