16 March 2010
In the face of economic downturn and widespread recession XOR has recorded impressive growth.
Subject to financial audit, the company has achieved a 116 per cent increase in turnover in 2009 to £2.23million, which has resulted in a 107 per cent increase in operating profit to £867,000.
This financial success in the midst of such an adverse economic climate was attained thanks to a number of astute investments and the re-assessment of existing processes to suit the market.
XOR has adopted in-house developed productivity tools for large-scale emulation based e-learning projects, such as the one it was contracted to work on for the Department of Work and Pensions.
It also migrated vocational assessments online, and converted instructor-led and paper-based distributed learning to centralised online e-learning, as illustrated by XOR's work with Homebase, to whom XOR delivered e-learning throughout the 300 Homebase stores.
Sanjay Misra, Financial Director of XOR said:
"As a result of significant investment in new products and processes over the past few years, XOR has widened its portfolio of services and made itself more recession-proof than other companies. The long-term vision shown in the past has led to us not only weathering this financial storm, but flourishing in it - all of these factors bode well for XOR's very successful future in the e-learning sector."