Xchanging Share Discussion Threads

[paddyfool] 04/3/2016 09:47

With those results it would have been an interesting day on the markets for Xchanging!

[paddyfool] 12/12/2015 19:27

you would have thought that there would be a comment or two on the auction for this company........

[kingston78] 05/10/2015 08:23

I called it correctly at the bottom when the shares were trading at around 96. It is very satisfying that my share price target of 140 p has been exceeded in both price and time scale.

[loftus16] 05/10/2015 07:36

Nice start to the week.

[matt123d] 04/10/2015 22:21

Exactly, will have to RNS tomorrow.

[paddyfool] 04/10/2015 17:17

only at the point they were prepared to share info with a buyer, up to that point there is nothing to declare....monday will be interesting!

[kingston78] 04/10/2015 14:29

Matt123d,

If the information that you have mentioned is true, wouldn't the directors have had an obligation to inform the market?

[matt123d] 04/10/2015 08:57

Xchanging Confirms Approaches From Capita, Apollo ManagementSunday, October 04, 2015 09:01 amby Laura Hurst(Bloomberg) -- Xchanging has received separate approaches from Capita and Apollo Global Management, co. says in e-mailed statement.Capita has made several offers since August, the latest which was received Sept. 24 to acquire Xchanging at 160p/shrCapita has been granted due diligence access, Xchanging saysXchanging has also granted Apollo access after receiving an offer at 170p/shrXchanging reiterates outlook for the full year with trading performance in line with last year and a return to growth in the full year 2016

[kingston78] 01/10/2015 19:53

Strong recovery share chart. Immediate target 120.

[kingston78] 29/9/2015 09:33

This company is recovering from its low and is poised to go much higher (40% upside in the next 6 months in my view). It is moving higher in a generally depressed market. Canny investors are picking up these shares on the cheap.
It is time to follow suit.

[kingston78] 22/9/2015 17:29

With the impending arrival of a new chief executive, the news of which has been received positively by the market. The share price is likely to have much further to go.

[simon gordon] 01/9/2015 10:51

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.

[kingston78] 06/8/2015 11:35

Yesterday the share price reached as high as 105 but did not sustain at that level. Today it is continuing on an upward path. You will see from the candle chart that it is now beginning a bullish phase. I am confident that it will rise to 117-120 range very soon.

[kingston78] 04/8/2015 22:33

The share price has stabilised and the share chart is turning upwards by a small margin. My reading of the chart is that the share price will attempt to swing back to 120 p. But my short-term target is more modest at 110 p.

[randolph and mortimer] 03/8/2015 11:23

Or to sell tech. They now have an overdraft. Over to you GU.

[simon gordon] 30/7/2015 11:10

Tech Market View - 30/7/15:

Xchanging H1 better post acquisitions; CEO to retire

Recent acquisitions are helping to slow the revenue declines at IT and business process services (BPS) supplier Xchanging (see Xchanging’s Agencyport deal finally sets sail, and work back).

In H115, net revenue was down 3% to £199.4m, compared to falls of 24% and 23% in H114 and FY14 respectively (see here and here). The adjusted operating margin also rose to 10.2% vs. 9.8% last time. Excluding the £15m boost from acquisitions, revenue would actually have fallen 10% - nonetheless, still an improvement on where things were.

Xchanging also announced the retirement of CEO Ken Lever at the end of 2015, following four years at the helm (see Lever gets the top job at Xchanging). Lever has run the business during a very difficult time, and has done a creditable job taking some tough decisions, like refocusing the business away from legacy joint venture BPO deals to more technology and IP-led business process services. In fact, Xchanging now sees the legacy BPS legacy contract revenue reduction almost complete.

The insurance product suite Xuber is central to Xchanging’s turnaround. Although progress has been slow, there have been a number of smaller contract wins in H1 with Ariel Re and Everest Re, but encouragingly some ‘material contracts’ are moving towards closure in H2.

Procurement appears to be in a real mess. Xchanging took a £47m impairment charge here following declines and widening losses, and plans to reorganise during H2. Procurement is the smallest part of Xchanging’s business, but the shift from legacy outsourcing is firmly at play as contracts are exited and renegotiated. The newer procurement SaaS/BPaaS offerings (MM4 and Spikes Cavell acquisitions) are growing, albeit from a low base.

Lever now has six more months to finish the job of restructuring. It will then be up to the new CEO to give Xchanging a fresh start and re-invigorate the business.

[randolph and mortimer] 30/7/2015 11:07

Mr.Odey will add down here.

[my retirement fund] 30/7/2015 10:16

Groundhog Day

[simon gordon] 30/7/2015 10:06

Dow Jones - 30/7/15:

LONDON--Shares in Xchanging PLC (XCH.LN) plummeted Thursday after the professional services business for the insurance and financial markets said Chief Executive Ken Lever will retire at the end of this year and the company swung to a loss.

Xchanging said the search for Mr. Lever's successor is underway, without providing further details.

For the six months ended June 30, the group swung to a loss of GBP53.9 million ($84.1 million) from a profit of GBP11 million in the year-earlier period. Operating profit adjusted for exceptional items rose slightly to GBP20.4 million from GBP20 million.

Revenue fell to GBP199 million from GBP205 million, hit by a "poor" performance in procurement.

"The board is pleased with the performance of the majority of the group during the first half of the year," said Mr. Lever. "The outlook for the full year is a trading performance in line with last year and a return to profit growth in the full year 2016."

At 0901 GMT, shares fell 22% to 99 pence. Citi analysts said the guidance is disappointing, which hit investor sentiment.

Broker Liberum added the performance of procurement is "significantly worse than expected" and marred by exceptional costs. Still, the broker said it expects the setback not to be systemic, supported by the company's operational strength.

[vk74] 30/7/2015 10:00

That is going on guys?

[my retirement fund] 18/6/2015 11:16

Looking weak

[my retirement fund] 11/5/2015 15:42

free stock charts from uk.advfn.com


Hmmm looks to be a dead cert, any views ?

[randolph and mortimer] 09/5/2015 17:54

Xchanging Financial Services Partners with Sphonic

Alliance will provide cost-effective, agile solutions to support financial services institutions with addressing the challenge of tackling financial crime

LONDON, 29 April 2015 - Xchanging plc, the business technology and services provider, announced today that its Financial Services division has signed a partnership with Sphonic, a London-based Risk Management company, which provides an innovative digital Risk and Compliance platform and specialist consulting services to financial institutions across the UK and Europe.

The alliance between Xchanging and Sphonic will provide cost-effective, agile and fit-for-purpose solutions to support financial services institutions with addressing the challenge of tackling financial crime. Applying a big data approach to the largest set of data sources of any vendor in this market, the Sphonic solution looks for the "needle in the haystack" to identify relevant and customer-specific information. The search for the FACTS (Focus Around Customer Transactions Significance) in an automated, straight-through processing operation is at the heart of Xchanging's offering to the financial services market.

The partnership also grows Xchanging's capabilities to combat the regulatory and market challenges around KYC (Know Your Customer), AML (Anti-Money Laundering), and Fraud and Risk Management.

Xchanging's proven deep industry expertise, global delivery capability and track record of delivering highly efficient, cost-effective business processing and technology operations, combined with Sphonic's experience and solutions, will provide clients with both the value of a large-scale business and cutting-edge technology straight from Britain's tech hub.

Tahir Adam, Xchanging Financial Services, comments: "Today's digital world is creating new challenges for banks and financial services institutions. Regulators are simply not satisfied with their performance, customers are not getting exemplary service, and shareholders are unhappy with the size of the fines being incurred.

"Compliance and risk management remain the top issues for the sector, which is why we chose to partner with Sphonic. The company has built a solution truly designed for the digital age: it is a low cost, easy to integrate Software-as-a-Service platform that is focused on identifying the relevant data needed to risk assess each individual customer event."

Riten Gohil, Chief Executive, Sphonic, comments: "In the fast moving digital environment, consumers are demanding intuitive and friction-free methods to register and use financial services. Equally, financial services providers are challenged by an increasingly complex regulatory environment and managing risk alongside consumer acceptance. This partnership will provide a range of innovative technologies and robust processing capabilities that meet the demands of an evolving marketplace, and allows Xchanging to leverage best-in-class solutions such as KYC, Customer On-Boarding, and AML Monitoring and Case Management."

In a 2014 Everest Group report (Banking and Financial Services (BFS) BPO Annual Report 2014 - Low on Growth, High on Regulations - BFS BPO Adapts to the "New Normal "), Xchanging was named as the largest Capital Markets business processing services provider globally in terms of market share by revenues, and as a significant player in the European BFS BPO space, with 23% market share.