Northgate Information Solutions delivers 12th successive year
Northgate Information Solutions (“NIS”), the leading international systems and outsourcing Group, announces its results for the full year ended April 30th 2011
For full financial details and statement please click here
Operational Highlights
- Continued growth at NorthgateArinso and integration of Convergys acquisition in the US
- Significant new client wins including: Siemens, BASF, Air Canada, AMP and NBC Universal
- Rapid restructuring with the Public Services division to take account of changing market conditions
- Strong growth at Managed Services due to the roll out of orders won in previous years. Order book maintained
- Search commenced for new Group CEO to replace Chris Stone, who will step down in the new year
Chris Stone, Group CEO, commented: “I am delighted to be able to report another year of growth at Northgate Information Solutions despite significant challenges in
some of our markets. We delivered this performance due to the significant investment we have made in the business in the last several years and the dedication of all our staff.
"After twelve successful and very happy years as CEO of Northgate, I have decided to step down from my post to seek new challenges and clear the way for a successor. I shall be leaving in the new year once my successor has been identified. I leave with great confidence in the future of the business and wish my colleagues
and my successor every success"
The Board of Northgate is undertaking a selection process for a replacement for Chris and will provide an update when appropriate.
Todd Fisher, Chairman of the Board of Directors, commented: “KKR and I would like to thank Chris for his contribution to the company. Chris has helped build an excellent business, with a very strong management team. NorthgateArinso has been gaining strong organic growth momentum and has been recognised as a market leader. Public Services and Managed Services are very well positioned for growth in outsourcing services. Chris has been a pleasure to work with and we thank him for his dedication to the business.”
This release is an extract of Northgate IS’s annual review for 2010/11, which will be available from Monday on the Group’s website www.northgate-is.com
For further Information: Maitland
Neil Bennett / Daniel Yea - 020 7379 5151
