Outsourcing pushes Logica Q3 revenues up 2%

Thursday, November 10, 2011

UK IT services firm Logica has posted revenues of 914mn pounds (US$1.45bn) for the third quarter of 2011, up 2% compared to the same period last year, the company said in a statement.

Revenue for the nine months to September was up 4% at 2.91bn pounds.

Logica's orders increased 10% for the nine months to September driven by continued growth in outsourcing.

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Outsourcing revenue growth was up 10% on a year to date basis, and up 8% in the quarter.

"A strong outsourcing backlog and the good balance of our business means we expect our

business to grow in the fourth quarter, with revenue growth expected to be above 3% for the year," the company said.

Logica's CEO, Andy Green, highlighted the company's strong performance in the UK and continued growth in France.

In Brazil, Logica is expanding its presence in several segments, such as the energy, utilities, financial, transport, trade, industry, and telecommunications sectors. "The most strategic businesses are in Brazil, one of our main sources of growth," Green said.

To read the full statement, go to this link