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16 January 2002
Xansa specialises in four key areas: Information Technology, Business Process Management, Outsourcing and Business Consulting. The company operates in the UK, North America, Continental Europe, India and Asia-Pacific.
Key Features
The figures above are quoted before ?0.9m relating to the distribution of shares from the Trust and goodwill amortisation of £21.3m, an increase of £0.5m on the previous half year, arising from the acquisition of Synergy International. EPS is taken after accounting for the minority interest in FBS of
£4.2m to HBOS.
Commenting on the results, Hilary Cropper CBE, Executive Chairman, said:
"I am again very pleased to announce a strong set of interim results for Xansa against the background of a tighter economic climate.
We believe that the outsourcing trend for large-scale IT processes is now well established and the order pipeline for further large deals has strengthened. We are also very pleased to have established a new business in Business Process Management at the early stages of what we believe will be an even larger international market. Both these factors give Xansa considerable opportunities for continuing long-term
growth.
The Enterprise Solutions business also represents a significant growth prospect as large international organisations focus on enterprise-wide process improvements. These in turn will form the kernel of future business process outsourcing opportunities. Nevertheless the immediate future is hard to read. Post 11 September, the initial reaction of many organisations was to cut discretionary spend. Whilst there are some signs that this factor will ease, there has been an effect on the business forecasts for the current period, particularly in the area of Business Change consulting. We now expect the turnover from Business Change in the full year to be approximately 20% down resulting in a breakeven contribution from this unit. We have responded rapidly to the situation by bringing forward a number of rationalisation items in addition to those we announced in November.
Whilst taking a cautious view of the coming months, the Board remains confident that the actions it has taken along with the company's prospects for further growth will underpin management expectations for next year and will continue to increase shareholder value in the future."
