Xchanging PLC trading update
28 Jun 2007
28 June 200
Xchanging plc, the international pure play business process outsourcing (BPO) company, announces that trading performance for the six months ending 30 June 2007 is in line with management expectations.
Highlights from the first half of 2007
- Completed the buy out of two highly successful partnerships with BAE Systems in HR and procurement business processing for £57 million.
- Completed the delivery of a full insurance processing solution to Lloyd's Reinsurance China Company Limited (LRCCL).
- Confirmed plans to jointly launch an ACORD messaging hub with Advisen to all brokers and insurers in the London Market. The messaging hub will support message traffic for placement, endorsements, accounting & settlement and electronic claims, whether in a peer-to-peer or bureau-based trading model.
- Signed a deal with the North Devon NHS Trust to provide payroll services to 4,000 NHS employees for the next 5 years.
- Signed a five-year £1.7 million annual contract renewal to provide HR services to SELEX Sensors and Airborne Systems (SELEX S&AS).
Overall, trading in the first half of the financial year is in line with management expectations. Xchanging continues to see good levels of activity in the business process outsourcing market and remains excited about future prospects.
Xchanging will announce its 2007 Interim results on 31 July 2007.
David Andrews, CEO
Richard Houghton, CFO
13 Hanover Square, London W1S 1HN
Phone: +44 (0) 20 7780 6999
Phone: +44 (20) 7353 4200
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