Following the sale of the Software Services side, which on a pro-forma basis reduces debt to basically nothing, XKO is now all about Revenue Assurance. This should be an area of high growth, and XKO should soon reflect this in terms of performance put in so far and prospects to come, by a re-rating.
What is it ? The Revenue Assurance division specialises in complex Revenue Assurance and debt management for major utilities. There are two units in this Division, UBM ( current customers include giants like npower, Centrica etc..) and then Powerdebt (which is a specialist Revenue Assurance and Debt Management business based in Solihull.
So XKO is now in basic terms debt free, putting in decent earnings, with good prospects going forward, UK based and with a nice dividend to boot.
Add on to that some earnings enhancing acquisitions in the Revenue Assurance side, and a strong growth high margin business is building nicely.