KEY POINTS:
Christchurch software company Jade has won a five-year, $17 million contract with British mortgage administrator HML, despite the strong exchange rate.
The contract for software support and development, an expansion of a previous two-year agreement, was Jade's largest single development contract, managing director Rod Carr said.
HML processed over $120 billion of residential mortgages for a wide range of UK financial institutions, and offered over 8000 different mortgage products.
The high New Zealand dollar was putting pressure on margins, but more productive technology and improved business processes meant Jade could service customers outside New Zealand, Dr Carr said.
Just over half -- 57 per cent -- of Jade's revenue was derived offshore.
- NZPA
