UK based IT company Xansa has announced increased profits for the fiscal year ended April 2002. The company benefited from a number of lucrative contracts with companies such as Barclays, Boots and Diageo.
Profits for the full year rose 10% to £46.5 million, while turnover increased 18% to £515.1 million. Xansa announced that its dividend is being held at 3.24p per share.
In other news, HBOS has given notice that it intends to terminate its joint venture with Xansa. The First Banking Systems joint venture will cease trading in December 2003. Xansa will receive £9 million in compensation as a result of HBOS’ decision to end the venture.