Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
XPS Pensions is on a roll after Xafinity and Punter Southall tie-up
Gain to date: 11%
Original entry point:
Buy at 163p, 31 August 2017
The pensions actuarial, consulting and administration business previously known as Xafinity has published a decent set of full year results with £64m revenue and £17.9m adjusted pre-tax profit, the latter beating stockbroker Zeus’s £17.3m forecast.
Its results were helped by the acquisition of Punter Southall in January. ‘We hoped the addition of one plus one would equal a bit more than two and that’s been the case with putting together Xafinity and Punter Southall,’ says co-chief executive Paul Cuff.
He says there are certain areas where both businesses are stronger than the other, thus creating opportunities for cross-selling work. For example, the old Xafinity business has historically excelled with mass communications for pension schemes and the recently enlarged group has already won new work in this area from ‘a very large’ Punter Southall client.