Xansa axes 100 more staff

Shares in IT services firm Xansa plummeted today after the company announced further job cuts.

The firm previously known as FI Group is axing a further 150 employees on top of the 100 announced in November, despite beating analyst profit predications by some margin.

Shares in the company fell 45p today to 304p - a loss of 12.89 per cent.

The analyst consensus on Xansa's half-year profits ending 31 October was £256.4m yet the company made £269.2m, a rise of 32 per cent.

Hilary Cropper, the company's executive chairwoman, said its Business Change consulting unit was hit by 11 September events.

Cropper said the Business Change division had reported turnover 20 per cent lower than expected so staff are being cut by four per cent.

Pre-tax profits shot up by 54 per cent from the same period last year to £23.1m.