Half Year Results 

XPS Pensions integration slows growth

XPS Pensions integration slows growth

The costs associated with merging Punter Southall’s businesses into existing operations not only forced XPS Pensions (XPS) into a loss during the first half, but the added distraction also meant revenue growth slowed to 3.3 per cent on a pro-forma basis. However, co-chief executive Paul Cuff says the growth rate should pick-up during the second half, with several contracts coming to fruition. The recent High Court judgement ordering Lloyds (LLOY) to equalise pension payments for men and women should provide a further influx of work as other companies are forced to follow suit, he says.

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