XPS Pensions Group (XPS)

Sector:

Financials

Index:

FTSE Small Cap

135.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 151.50
  • 52 Week Low: 115.00
  • Currency: UK Pounds
  • Shares Issued: 205.15m
  • Volume: 1,318,750
  • Market Cap: £276.95m
  • RiskGrade: 191
  • Beta: 0.52

XPS Pensions to expand public sector work with Kier Pensions acquisition

By Josh White

Date: Tuesday 18 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Pensions actuarial, consulting and administration business XPS Pensions Group has, subject to certain conditions, agreed to acquire the assets of Kier Pensions Unit from Kier Business Services - a division of Kier Group - it announced on Tuesday.
The London-listed firm said the total consideration for the acquisition was up to a maximum of £3.5m in cash.

Completion of the acquisition, and the maximum consideration payable by the company, remained conditional on a threshold percentage of Kier Pensions' existing clients agreeing to transfer their contract to XPS.

The acquisition was being funded from cash resources held by the XPS group.

It explained that Kier Pensions provided third-party pension administration services to public sector clients, including around half of the police forces in the United Kingdom and to Middlesbrough Borough Council.

The assets were non-core to the Kier Group, and the transaction formed part of the 'Future Proofing Kier' programme.

Kier Pensions did not prepare separate audited accounts.

Based on financial information obtained during the due diligence process, the gross assets of the business as at 30 June last year totalled £0.84m.

The profit contribution attributable to the assets, for the 12 month period ended 30 June 2017, was £1m.

XPS said the acquisition would add to the "continued growth" of its pensions administration business, XPS Administration, and would give it - for the first time - a significant presence in the market for public sector third party administration, in addition to its existing presence in the market for private sector pension schemes.

The acquisition was also expected to add a number of "important clients" to the XPS portfolio of administration only schemes, and take the total number of members XPS administered above 800,000.

In addition, 70 employees based in Middlesbrough would join the group.

The acquisition was expected to add approximately 4% to XPS' revenues.

"XPS is continuing to move towards our goal of becoming the clear differentiated alternative to the Big 3 in the pensions consultancy sector," said the company's co-chief executive officer Paul Cuff.

"This acquisition strengthens our leading position in the pensions administration market and gives us a strong foothold in the public sector third party administration market and enhances our regional presence.

"We look forward to providing our high-quality service to our new clients and welcoming our new colleagues to our group."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

XPS Market Data

Currency UK Pounds
Share Price 135.00p
Change Today -1.00p
% Change -0.74 %
52 Week High 151.50
52 Week Low 115.00
Volume 1,318,750
Shares Issued 205.15m
Market Cap £276.95m
Beta 0.52
RiskGrade 191

XPS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
32.24% below the market average32.24% below the market average32.24% below the market average32.24% below the market average32.24% below the market average
53.12% below the sector average53.12% below the sector average53.12% below the sector average53.12% below the sector average53.12% below the sector average
Price Trend
10.45% below the market average10.45% below the market average10.45% below the market average10.45% below the market average10.45% below the market average
10.95% below the sector average10.95% below the sector average10.95% below the sector average10.95% below the sector average10.95% below the sector average
Income
89.13% above the market average89.13% above the market average89.13% above the market average89.13% above the market average89.13% above the market average
62.67% above the sector average62.67% above the sector average62.67% above the sector average62.67% above the sector average62.67% above the sector average
Growth
61.36% above the market average61.36% above the market average61.36% above the market average61.36% above the market average61.36% above the market average
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

XPS Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Jan-22 26-Aug-21
Paid 03-Feb-22 23-Sep-21
Amount 2.40p 4.40p

Trades for 07-Dec-2021

Time Volume / Share Price
16:37 2,500 @ 135.00p
16:37 2,500 @ 135.00p
16:35 2,307 @ 135.00p
16:27 1,000 @ 135.28p
16:26 1,000 @ 135.28p

XPS Key Personnel

CEO Ben Bramhall
CEO Paul Cuff
CFO Snehal Shah

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