WNS Discloses Client Intent to Terminate
February 02 2024 - 8:00AM
Business Wire
WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of
global Business Process Management (BPM) solutions, today disclosed
in its Form 6-K filed with the SEC the following information in
Part III Risk Factors:
“For example, one of our top five customers by revenue
contribution in fiscal 2024, which is in the HCLS SBU, served a
termination notice on January 31, 2024. The customer accounted for
4.1%, 6.5% and 7.3% of our revenue and 4.3%, 6.8% and 7.9% of our
revenue less repair payments (non-GAAP) in fiscal 2024, fiscal 2023
and fiscal 2022, respectively. This termination is effective July
1, 2024, and does not impact our revenue in fiscal 2024. We are in
discussion with the customer around the support required for the
transition of the services and are currently ascertaining the
related financial and accounting impact.”
About WNS
WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process
Management (BPM) company. WNS combines deep industry knowledge with
technology, analytics, and process expertise to co-create
innovative, digitally led transformational solutions with over 600
clients across various industries. WNS delivers an entire spectrum
of BPM solutions including industry-specific offerings, customer
experience services, finance and accounting, human resources,
procurement, and research and analytics to re-imagine the digital
future of businesses. As of December 31, 2023, WNS had 60,652
professionals across 66 delivery centers worldwide including
facilities in Canada, China, Costa Rica, India, Malaysia, the
Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, the
United Kingdom, and the United States. For more information, visit
www.wns.com.
Safe Harbor Statement
This release contains forward-looking statements, as defined in
the safe harbor provisions of the US Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
our current expectations and assumptions about our Company and our
industry. Generally, these forward-looking statements may be
identified by the use of terminology such as “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “will,” “seek,” “should”
and similar expressions. These statements include, among other
things, expressed or implied forward-looking statements relating to
discussions of our strategic initiatives and the expected resulting
benefits, our growth opportunities, industry environment, our
expectations concerning our future financial performance and growth
potential, including our fiscal 2024 guidance, estimated capital
expenditures, expected foreign currency exchange rates, and our
plans to exchange outstanding ADSs for our ordinary shares and
reporting change discussed above and the expected resulting
benefits. Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Such risks and
uncertainties include but are not limited to worldwide economic and
business conditions, our dependence on a limited number of clients
in a limited number of industries; the impact of the ongoing
COVID-19 pandemic on our and our clients’ business, financial
condition, results of operations and cash flows; currency
fluctuations; political or economic instability in the
jurisdictions where we have operations; regulatory, legislative and
judicial developments; increasing competition in the BPM industry;
technological innovation; our liability arising from fraud or
unauthorized disclosure of sensitive or confidential client and
customer data; telecommunications or technology disruptions; our
ability to attract and retain clients; negative public reaction in
the US or the UK to offshore outsourcing; our ability to collect
our receivables from, or bill our unbilled services to our clients;
our ability to expand our business or effectively manage growth;
our ability to hire and retain enough sufficiently trained
employees to support our operations; the effects of our different
pricing strategies or those of our competitors; our ability to
successfully consummate, integrate and achieve accretive benefits
from our strategic acquisitions (including Vuram, OptiBuy, and The
Smart Cube), and to successfully grow our revenue and expand our
service offerings and market share; future regulatory actions and
conditions in our operating areas; and our ability to manage the
impact of climate change on our business. These and other factors
are more fully discussed in our most recent annual report on Form
20-F and subsequent reports on Form 6-K filed with or furnished to
the US Securities and Exchange Commission (SEC) which are available
at www.sec.gov. We caution you not to place undue reliance on any
forward-looking statements. Except as required by law, we do not
undertake to update any forward-looking statements to reflect
future events or circumstances.
References to “$” and “USD” refer to the United States dollars,
the legal currency of the United States; references to “GBP” refer
to the British pound, the legal currency of Britain; and references
to “INR” refer to Indian Rupees, the legal currency of India.
References to GAAP refers to International Financial Reporting
Standards, as issued by the International Accounting Standards
Board (IFRS).
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version on businesswire.com: https://www.businesswire.com/news/home/20240201634809/en/
Investors: David Mackey EVP – Finance & Head
of Investor Relations WNS (Holdings) Limited +1 (646) 908-2615
david.mackey@wns.com
Media: Archana Raghuram EVP & Global Head –
Marketing & Communications WNS (Holdings) Limited +91 (22) 4095
2397 archana.raghuram@wns.com; pr@wns.com
WNS (NYSE:WNS)
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