(By Anthony Miller – Monday, 2nd March 2009 7:15am). As presaged in its November trading update (see Xchanging signals “broadly positive” BPO outlook), ‘the other’ UK-based BPO, Xchanging, turned in a very respectable 15% constant currency organic growth in 2008, with revenues hitting £558m (+19% as reported). This pipped Capita’s growth, both reported (+18%) and organic (+12%) (see Capita – ever ‘Boring’). Xchanging’s adjusted margins grew 50bps to 7.3%, though still way behind Capita’s 13%. CEO David Andrews reported that revenue visibility for the rest of this year is 18% better than this time last year, at £527m. However, he noted that major processing and procurement deals are taking longer to close. I’m off to the investor briefing now and will update you later today.
Monday, 2 March 2009
Xchanging sees 18% higher revenue visibility
(By Anthony Miller – Monday, 2nd March 2009 7:15am). As presaged in its November trading update (see Xchanging signals “broadly positive” BPO outlook), ‘the other’ UK-based BPO, Xchanging, turned in a very respectable 15% constant currency organic growth in 2008, with revenues hitting £558m (+19% as reported). This pipped Capita’s growth, both reported (+18%) and organic (+12%) (see Capita – ever ‘Boring’). Xchanging’s adjusted margins grew 50bps to 7.3%, though still way behind Capita’s 13%. CEO David Andrews reported that revenue visibility for the rest of this year is 18% better than this time last year, at £527m. However, he noted that major processing and procurement deals are taking longer to close. I’m off to the investor briefing now and will update you later today.
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