StockMarketWire.com - Xchanging confirms that BAE Systems has entered into a new contract for its procurement services in the UK for a further period of three years following expiry of the current UK contract at the end of 2012.
The award of this contract follows the announcement in August 2011 of two significant contract wins, one with BAE Systems in North America, and a second with L'Oréal in Europe.
Together with the new BAE Systems UK contract announced today, which will have a lower margin than the existing contract, these contracts are expected to contribute towards Xchanging's aim of re-generating profitable growth momentum.
At 9:42am: [LON:XCH] share price was +1.75p at 86.75p
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