Xchanging shuts offices

STRUGGLING outsourcing firm Xchanging reported solid trading since January yesterday amid an overhaul of its business, and said it expected revenue improvements in the second-half of the year.

Xchanging plans to close its West End office and move its staff to its Leadenhall Street office as part of the overhaul, but said its seasonally quieter first quarter had been solid.

The back-office services supplier said its financial services and insurance businesses, excluding its US operation, had performed slightly ahead of its expectations.

“Since announcing our four-part action plan at the time of our preliminary results we have been very active and have made good progress,” said acting chief executive and finance chief Ken Lever.