Curtis Banks Group PLC (AIM:CBP) said it expects rising interest rates to give profits a lift over 2022.
Will Self, the SIPP administrator's chief executive, added: "Changes made to our pricing policy now mean that 88% of our core revenues recur in perpetuity, with fixed rates of increase providing higher quality revenues that protect earnings against inflation.
“This, alongside the prospect of a rising interest rate environment, provides confidence that we will see additional earnings growth in 2022.
“There was also a notable decrease in delayed SIPP attrition rates by October, as the SIPP market began to normalise following the phasing out of COVID-19 restrictions, and this has continued into 2022.”
Self said the performance in 2021 was "robust" in the face of several headwinds, including Covid and lower interest income.
Recent acquisition Dunstan Thomas also ran into some Covid issues during the year, he said, but its integration into the group is still progressing well.
Revenue in the year to end-December 2021 increased by 17.5% to £63.3mln with underlying profits up by 5% to £14mln and pre-tax profit rising by 22% to £9.3mln.
Curtis Banks now has just under 79,700 policies on its books against 82,200 a year ago, but the quality was improving, it said, with 7.9% growth in full and mid-SIPP accounts.
Assets under administration increased by 15.4% to £37.4bn with the dividend for the year unchanged at 9p.