Xchanging operating profit hits £14m, but results fall below expectations
Insurance solutions provider Xchanging posted a statutory operating profit of £14m for the first six months of 2012, representing an increase of £10.8m on last year.
Adjusted pre-tax profit, excluding exceptional items, jumped 17.6% to £14m from £11.9m in the first half of the year; and operating cash flow grew from £8m to £26.6m.
Revenue rose slightly by 0.2% to
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