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05 December 2002
Xansa is a company that transforms the business capability of its clients through its expertise in Business Consulting, Information Technology, Outsourcing and Business Process Management.
Key Features
These figures are quoted before profit on sale of own shares, distribution of shares from the trusts, reorganisation costs and goodwill amortisation and impairment.
Commenting on the results, Alistair Cox, Chief Executive, said:
"The current economic climate suggests that we are unlikely to witness any marked upturn in demand during our financial year 2003/04 and so we are putting in place an organisational structure and cost base appropriate to compete in a market that we assume will be flat. Trading since the period-end has been in line with our expectations.
Our immediate focus is on securing more contracts. We are encouraged by the tremendous interest shown in our propositions and in particular our ability to offer cost-effective delivery from our India business. This is reflected in our healthy pipeline and strong order bank of £625m.
The streamlining plans are well advanced and the savings flowing from this will both increase safety and enhance profitability in the next financial year through significant overhead reductions.
In summary, the Board remains confident that the actions being taken, the investments being made and sustainable cost savings being generated will reinforce the company's prospects for a return to growth and the realisation of shareholder value. In effect, we are prepared to tackle a continued tough market but are well positioned for growth."
