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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Xchanging | XCH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 191.125 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 191.125 |
| Top Posts |
|---|
Posted at 01/9/2015 11:51 by simon gordon CityWire - 23/8/15:Majedie bucks Xchanging sell-off Majedie’s star team of AAA-rated UK equity managers has upped its stake in back-office services provider Xchanging (XCH) as shares in the business have dropped to a three-year low on a first half loss. The managers increased their holding to 5% of the business worth £12 million at a share price of 97p, the lowest they have traded since July 2012. The shares are held in the Majedie UK Equity and the Majedie UK Smaller Companies funds, run by James de Uphaugh, Richard Staveley, Matthew Smith and Christopher Field, all AAA-rated. Xchanging slumped more than 20% at the end of July after it reported revenues in its procurement division, which contributed more than a third of sales last year, were down 18%. Chief executive Ken Lever, who joined to fight fires after the business’ last reported loss in 2011, is also stepping down. The buy runs very much counter to received wisdom, with Liberum halving its target price to 100p following the announcement, and Investec cutting more modestly from 160p to 140p. |
Posted at 27/2/2014 12:38 by mulderx2 yes,what an overreaction today,XCH is so cheap,a bargain i say. |
Posted at 27/2/2014 10:41 by bigboyo Looks like an annual february posting !The share price over the last year has seen steady progress, the dividend for this year declared at 2.5p and net cash around 25% of market cap (at share price of 180p). Lots of firepower to develop and grow the business and the long term trend is BPO whether its onshore or offshore. |
Posted at 19/12/2013 09:52 by ruethewhirl Rue is in XCH |
Posted at 01/3/2013 07:35 by 8mp QS9: I'm currently a holder and follower! I think the share was a little under the radar hence the lack of board activity. But it definitely shone yesterday on the back of the results as I think the market didn't expected such a corker! Especially with the re-introduction of a dividend which further shows their confidence. Chart looks strong too. Are you a holder? |
Posted at 08/11/2011 19:30 by lefrene Good to see a management walking the talk. Short of general market melt down XCH looks likely to be in for a decent recovery. |
Posted at 17/7/2011 13:00 by el professor HVS not sure I agree with your views on Xchanging.It has been a dreadful past three years for the company with the period Aug 10 - Mar 11 being the nadir. Nevertheless following the clear out back in February when the founder/ CEO David Andrews resigned, the £120M of goodwill relating to Cambridge was written off, the dividend suspended and the resulting halving of the share price, things have started to look better. I grant you that a lot of the excellent performance of the share in the past 5 months has been a result of the sell off having been overdone but it does not change the the fact that at the current share price of c£1.00 Xchanging is cheap. I agree that the acquisition of Cambridge back in 2007 was a disaster and value destroying for Xchanging however on the plus side it has given the company a significantly larger Indian presence than they previously had and importantly has allowed them to diversify their Indian presence away from Gurgaon which being a Delhi suburb is expensive. The operation that they acquired in Mumbai was valuable not for the geography but for the strong IT team whereas the Shimoga operation was pure BPO but valuable for the fact that they acquired a team of 500 in a tier three city (i.e. very cheap). Xchanging are capitalising on that with the opening of a 2000 seat processing centre in Shimoga which will make them significantly cheaper than most other BPO companies and equally importantly should see them with reduced staff turnover, as they will the employer of choice in a university city that many local Indians want to stay in rather than move away from. Ken Lever has to date not out a foot wrong, in particular with the stripping out of a level of senior management that was put in a for a quick growth to being a FTSE 100 company that never materialised, the shutting of the West End head office and the sale of the loss making US Insurance business. His confirmation last month as CEO is to be welcomed. He has almost certainly brought out all the dead and then some back in February so I would expect the mid year results on 01 Aug to be significantly ahead of consensus. My take is that we will see c£.120 post half year results with a gradual increase in the share price throughout the autumn up to c£1.50 post full year results. A takeover is still a reasonably strong possibility in which case we will see a price of somewhere £1.80 to £2.20. |
Posted at 09/2/2011 17:54 by simon gordon HVS,With that logic every single employee of XCH has no Talent. XCH have been brought down by a deluded CEO and a terrible buy in Cambridge. For instance, XCH have top Talent running the highly profitable back office IT platform for Lloyds of London, this ain't mickey mouse business. The Lloyds contract is their crown jewel and from what I've read they have a very good reputation on this contract. WIKI In 2000, Xchanging and BAE Systems created the first of these 'Enterprise Partnerships' , for HR services. A second followed soon after, again with BAE Systems, for indirect procurement. Two years later, Xchanging and Lloyd's of London created two more 'Enterprise Partnerships', one for claims processing, and one for the London Insurance market's back office system; the latter including the IUA as a partner too. Further partnerships were signed with Deutsche Bank in 2004 (launching Xchanging into the European financial market), Aon in 2006 (in broking services) and Allianz GI in 2007. |
Posted at 27/7/2010 08:00 by simon gordon XCHANGING EXPANDS PRESENCE IN SOUTH EAST ASIAOpens new centre in Singapore, to serve as Xchanging South East Asia headquarters SINGAPORE, 27 July 2010 - As part of its global expansion, Xchanging plc (LSE: XCH), one of the largest and fastest growing global business processors, has relocated its Singapore operations to a new flagship centre. This centre will be headed by William Woo, who was recently appointed as Managing Director for Xchanging, South East Asia. Located at 13 International Business Park, Jurong East, the centre follows global best practice in design and technology to create a state-of-the-art environment. It follows a repeatable format seen in all Xchanging offices across the world. The design supports lean processing, collaboration and transparency with customers. This centre also advances Xchanging's corporate social responsibility goals as an economical and environmentally responsible workplace. David Andrews CEO Xchanging said, "Establishing our South East Asia headquarters marks a significant milestone for Xchanging as it forwards our ambition to be the global business processor of choice for our customers. Singapore is undoubtedly emerging as a global financial services hub; the region as such is taking a leadership position in the utilisation of new generation technologies such as Cloud Computing. This makes it a logical step in our growth strategy. Our existing customer relationships such as with the Government of Singapore and DHL give us a good head start in the region". |
Posted at 22/6/2010 07:08 by simon gordon Warbrook - tally-ho.....though it is a tiddler, come on you biggie:XCHANGING AND SIA-SSB TO FORM AN ENTERPRISE PARTNERSHIP Xchanging to enter the Italian market - an important milestone in the pan-European growth strategy LONDON, 22 June 2010 - Xchanging (LSE: XCH), one of the largest and fastest growing global business processors, has signed a letter of intent with SIA-SSB (SIA-SSB), the European leader in financial and payment systems services, to form an Enterprise Partnership (EP). As part of this proposed EP, Xchanging will acquire 51% of Kedrios S.p.A. (Kedrios), the Italian subsidiary of SIA-SSB that specialises in securities processing and fund administration services for the Italian market. Xchanging will assume operational control of Kedrios and its 152 employees. Upon completion, Xchanging will employ over 1300 staff and process over 40 million transactions per year for more than 100 customers on its Continental European financial markets platforms. Strategic rationale for the partnership This EP will combine Xchanging's European expertise in securities processing and investment account administration with Kedrios' strengths in fund administration and in the Italian market. This partnership will be an important building block for the creation of a pan-European operator for securities processing, investment account administration and fund administration to blue-chip financial markets customers. In particular this partnership delivers the following benefits: - allows Xchanging to serve its existing customers who have operations in the Italian market - expands Xchanging's international customer base - adds a new platform generating scale within Xchanging's financial markets operations. Kedrios will add value to the Xchanging's entry strategy in Italy with its deep knowledge in financial services, IT and business process outsourcing, as well as its strong customer relationships and robust technology solutions. In addition, SIA-SSB and Xchanging are assessing the possibility of leveraging Xchanging's pan-European expertise in procurement services. The EP with SIA-SSB also provides a great opportunity for Xchanging to further develop its strategic 10% investment in CAD IT, who in the future could become the software-provider for the new partnership. CAD IT is the leading securities processing software provider in Italy with about 80% market share. David Andrews, CEO Xchanging said, "This Enterprise Partnership with SIA-SSB is a logical step in the growth strategy of Xchanging in the Continental European market for financial services as well as procurement. We have built a strong position in the securities processing and investment account administration markets in Germany and expanded procurement operations in France, Germany, Spain and the Benelux. This new partnership leverages our successful platforms and gives us future opportunities for growth in the region. It reaffirms our commitment to grow rapidly through our Enterprise Partnership model". Massimo Arrighetti, CEO SIA-SSB said, "As a result of this partnership with leading international business processor Xchanging, we can now achieve two main goals - on the one hand expanding the range of Kedrios business services and customers and on the other hand maintaining and developing Kedrios' professional skills and technological know-how; the company's two key strengths since its creation in 2001". Matthias Sohler, Managing Director, Continental Europe for Xchanging added, "With this market entry into Italy, we will now be able to serve our existing customers in the banking, asset management and insurance market in Italy. We are building the foundation for a large, independent financial market operator, covering all relevant aspects of a pan-European transaction bank in securities operations, investment account administration and fund administration". Enterprise Partnership details Revenues for Kedrios for the year ended 31 December 2009 were 18.0 million1. The impact on Xchanging's financials in 2010 is not expected to be material. Xchanging is confident that it can leverage its expertise and capabilities to grow the business as it has its other EPs. Xchanging's comprehensive processing initiatives are anticipated to yield significant savings, such that the EP is expected to break even during 2011, and deliver profits to the Group in 2012. Xchanging will subscribe to a 51% stake in the EP through a share capital increase and invest in the EP over the next two years to re-organise the business and create a platform for future growth. Xchanging expects to grant SIA-SSB the option to sell its shareholding to Xchanging after the third anniversary of change of control. The consideration and subsequent investments will be funded through existing cash resources. Further announcements will be made when the terms of the deal are finalised and agreed, which is expected to be in the third quarter of 2010. Kedrios: SIA SSB: |
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