Oxygen set to boost UXC's income: chairman

UXC is looking at three more acquisitions, says chairman

UXC expects the acquisition of Oxygen to boost its revenues by A$20-25 million (NZ$22–28 million) annually, executive chairman Geoff Lord says.

That means that for the current financial year, Oxygen’s contribution will be approximately A$10 million, he says. “Oxygen will be with us for the last five months of this financial year,” he says.

Last month UXC announced revenues of A$133 million for the first half of the year, to December 31 and Lord says the company is projecting income of A$300 million for the full year, thanks in part to Oxygen’s expected contribution in the second half.

He also says UXC is looking at three more acquisitions, one a New Zealand company, one Australian and the other a trans-Tasman operator. One is a telco player and one a Microsoft specialist, he says, but he won’t say which is which.

UXC made a profit of A$6.8 million on the A$133 million revenues for the first half of the year.

It completed its acquisition of Oxygen early this year and negotiated as one of the conditions of purchase a five-year, approximately NZ$7 million SAP services contract with former owner Carter Holt Harvey.

Carter Holt sold Oxygen’s SAP consulting arm to UXC but retained the general IT services arm, which has now been merged into Carter Holt’s IT department.

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