The desperate straits that outsourcing supplier Xchanging has found itself in this year always meant share price volatility was likely. Unfortunately, in respect of our sell advice in March at least, the latest lurch in the share price has been upwards.
The share price has responded to efforts made by the new management team to overhaul the group's operations and restore confidence among shareholders and, more importantly, clients.
Major steps in the group's rehabilitation so far have included the sale of its troubled US claims-handling business for $27m, the sale of a re-seller business and the tidying up of ownership of certain outsourcing assets. The potential for a refinancing could also aid sentiment.
Price: 81p
When: 11 Mar 2011
Performance: -22%
