XCH.L Regulatory News (XCH)

16 May 2012

Xchanging plc

Interim Management Statement

Xchanging plc ('Xchanging'), the business process and technology services provider and integrator, today issues its Interim Management Statement covering the period from 1 January 2012 to date.

Current Trading and Outlook

Trading in the first four months of the year has been in line with our expectations. There have been no material changes to the financial position of the Group in the period.

Our Insurance business continues to perform well. The initiative to develop a Global Insurance Accounting and Settlement platform supported by Deutsche Bank progresses well and we plan to launch at the beginning of next year.

Financial Services has begun the year as expected and we have benefitted from the savings created last year, as planned.

In Technology services, we are accelerating the investment in our insurance software and in improving our market presence.

In Procurement, we continue to invest in the initial implementation stage of the new contracts with L'Oréal in Europe and BAE Systems in North America.

Ken Lever, Chief Executive, commented: "We have seen a steady start to the year as we pursue our agenda of building the foundations for growth.  Our objectives in 2012 are to demonstrate that we can compete to win in our chosen markets and to achieve year-on-year improvement in financial performance."

The company's AGM will take place at 10:00 am today at Xchanging's head office at 34 Leadenhall Street, London EC3A 1AX.

Enquiries

Xchanging plc Tel: +44 (0) 207 780 6999

David Bauernfeind, Chief Financial Officer

Alexandra Hockenhull, Head of Corporate Communications

and Investor Relations

Maitland Tel: +44 (0) 207 379 5151

Neil Bennett

George Hudson

Emma Burdett

Conference Call

David Bauernfeind and Alexandra Hockenhull will host a conference call for analysts and investors to discuss this Interim Management Statement at 08:00 BST on Wednesday 16 May 2012. The conference call telephone number is +44 (0)1452 555 566 and conference ID is 81735163.

For individuals unable to participate in the conference call, a telephone replay will be available until Wednesday 23 May 2012. Please telephone +44 (0)1452 550 000 (conference ID 81735163#).

Xchanging Investor Relations App

Please visit the App Store to download Xchanging's IR app.

About Xchanging

Xchanging is a business process and technology service provider and integrator specialising in Financial Services, Insurance Services, Technology and Procurement, with processing skills and capabilities applicable to other vertical industry and market sectors.

www.xchanging.com 

Cautionary Statement: 

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Xchanging's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.

There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approval or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.