The Channel logo

News

By | John Oates 24th February 2010 10:03

Logica hits targets for 2009

Low targets admittedly, but hey

Logica has hit financial targets for the year - revenues are down three per cent pro forma or up three per cent on an actual basis.

The public sector specialist saw outsourcing revenues grow nine per cent but this was offset by a 10 per cent fall in consulting and professional services.

Unaudited revenue for the year ended 31 December 2009 was £3.7bn compared to £3.6bn in 2008. Operating profit was £66m compared to £86m in 2008.

Operating margin stayed at 7.4 per cent and the company will increase dividends by 10 per cent to 3.3p.

Logica makes 32 per cent of revenues from the public sector and 27 per cent from industry, distribution and transport.

Shares are down three and a half per cent in trading this morning.

The company had 38,780 employees at the end of 2009 against the previous year's 39,937. It expects to finish the sale of its Dutch payroll business in the first half of the year. ®

alert Send corrections

Opinion

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Features

money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals
Angus Highland cow
Pet carriers not wanted for whitebox stampede
FBcoldstoragearray
Sorry OpenStack and Open Compute, we're not all Facebook
Gary Kovacs, CEO of AVG. Pic: World Economic Forum
Scammy download sites? Government snooping? Run of the mill for Gary Kovacs