16th Apr 2015 07:04
LONDON (Alliance News) - Xchanging PLC Thursday left its outlook for 2015 unchanged despite warning that there will be a heavier reliance on the second half of the year than usual as a result of a "disappointing" first quarter for its procurement business.
In a statement, Xchanging said it is still "focused" on its objectives of growing underlying revenue and profit, improving cash generation and increasing returns on investments made last year.
"We are pleased with the performance of our business processing services and technology businesses to date. Procurement has had a disappointing start but we are actively addressing the cause of the issues in this business, and are also taking early actions across all our businesses to mitigate the procurement underperformance," Xchanging said.
Xchanging's update covered the first quarter ended March 31.
By Samuel Agini; [email protected]; @samuelagini
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