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07 December 2006
Xansa, the outsourcing and technology company, is pleased to announce its results for the half year ended 31 October 2006.
Business Highlights
| Summary | H1 2007 £ million | H1 2006 £ million | Change % | ||
| Revenue | 188.4 | 175.4 | 7.4 | ||
| Underlying operating profit* | 13.2 | 12.3 | 7.3 | ||
| Underlying operating margin* | 7.0% | 7.0% | |||
| Profit before tax | 8.5 | 7.5 | 13.3 |
* Before share based payments, but including share of joint venture losses after tax
Bill Alexander, Chairman, Xansa commented:
"Over the last couple of years Xansa has transformed itself to achieve a leadership position that meets the demands of a rapidly evolving marketplace. Today, we are pursuing a strategy to focus on the delivery of key technology and business services to our clients. Progress has been strong in both the government sector, where revenues have risen 91%, and in the private sector where we have continued our 100% success rate of contract renewal. As a result of our strong performance our financial results for the first half of the year have been encouraging."
Commenting on the results, Alistair Cox, Chief Executive, Xansa said:
In the first half of 2007 we have continued to deliver against our key metrics. Revenue and profit have grown and our sales momentum has continued. NHS Shared Business Services, our joint venture with the Department of Health, is growing strongly and is on track towards profitability.
"Our investment in new services is beginning to bear fruit with a foundation HR outsourcing contract signed with Lloyds TSB in the half year. Our contract win at the BBC, one of the most prominent finance and accounting (F&A) deals let to date, strengthens our position as the UK leader in F&A services.
Our strategy of delivering technology and business services to our clients and our focus on building the most compelling solutions around these services has enabled us to create exciting opportunities for our business. Our priority is to deliver those opportunities and consolidate our leadership in key services by continuing to win new clients and to bring innovative and differentiated solutions to the market. This focus is yielding benefits and we expect to continue to grow revenue and profits in the second half. Our objective of creating a high margin and growing business is on track."
