StockMarketWire.com - Xafinity, the pensions actuarial, consulting and administration business, saw its pre-tax profit surge by 188% to £4.9 million in the six months ended 30 September 2017.

Revenue increased by 2% to £26.6m, while adjusted EBITDA grew by 2% to £8.7m.

Basic earnings per share rose from 1p to 2.9p following the IPO share reorganisation.

Xafinity has also announced the proposed acquisition of Punter Southall Holdings Limited, the holding company of the actuarial consulting, pensions administration and investment consulting businesses of Punter Southall Group (PS Group), for up to approximately £153 million.

The deal would combine the three target businesses with Xafinity's existing businesses, while Xafinity's HR trustees business would be sold to PS Group.

Xafinity said the deal would enable the enlarged group to become the largest "pure play" pensions consulting firm in the UK outside of the global consultancies.




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