Archived article
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.
PensionBee Group PLC - London-based online pension services provider - Reports that assets under administration have exceeded £3 billion in November. Expects to be profitable in financial 2023 and beyond. Says the performance has been driven by a combination of high customer retention, sustainable cost discipline and strong net inflows.
Chief Executive Officer Romi Savova says: ‘We have continued to execute on our strategy to grow the business, leveraging our scalable technology platform and excellent customer service capability, to deliver on our mission to help as many customers as possible across the UK save for a happy retirement.’
In October, PensionBee said assets under administration as at September 30 third-quarter were up 24% year-on-year at £2.79 billion, from £2.25 billion. It said it is ‘on track’ to achieve aims, including positive adjusted earnings before interest, tax, depreciation and amortisation by the end of 2023.
Current stock price: 47.00 pence
12-month change: down 64%
By Xindi Wei, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2022 Alliance News Ltd. All Rights Reserved.