Watch the latest episode of focusIR Fireside Chats: Why Edinburgh Investment Trust Is Backing Turnaround Stocks for 2026 Growth. Viewhere

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLOG.L Share News (LOG)

  • There is currently no data for LOG

Flat half for Logica

Fri, 06th Aug 2010 07:10
Software group Logica is reviewing its UK public sector business as it expects new projects will be slow in the second half, though its guidance for the year is unchanged.Underlying interim profits dipped slightly to £125m from £127m in the half-year to June, on revenues down 1% at £1.87bn. Pre-tax profits, excluding one-offs, rose to £86m from £24m."Decision making on new (public sector) projects will continue to be slower in the UK through the second half of 2010. Alongside other suppliers, we are working closely with the new government to help determine the contribution we can make to short term savings in elements of our UK public sector business, which account for less than 10% of overall group revenue," Logica said. "We will be looking at solutions that reduce cost while changing the mix of how these front line services and back office savings can be delivered," it added.Offsetting this, Logica says market trends elsewhere are gradually improving. Demand from Financial Services and IDT clients picked up through the first half and underpins its view that revenues and adjusted operating margin for the full year will be at a similar level to 2009. Revenues last year were £3.6bn.The interim dividend rises to 1.9p from 1p.

Related News

Logica to de-list from LSE this week as court approves takeover
20 Aug 2012

Logica to de-list from LSE this week as court approves takeover

Business and technology service group Logica, whose shares were suspended on Monday morning, has confirmed that the capital reduction required to comp...

Logica suspended as CGI takeover nears completion
20 Aug 2012

Logica suspended as CGI takeover nears completion

Shares in business and technology service company Logica were suspended from trade on Monday as the firm embarks on the final steps of its takeover by...

Friday broker round-up
20 Jul 2012

Friday broker round-up

Capita: UBS ups target from 725p to 740p, buy rating unchanged. Euromoney: Peel Hunt downgrades to hold. Gulf Keystone: HSBC upgrades to overweight....

LOG.L News

UK MARKET TALK ROUNDUP: BROKERS COMMENTS
23 Jul 2010

UK MARKET TALK ROUNDUP: BROKERS COMMENTS

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markett...

London close: Flat finish for FTSE 100
20 Jul 2010

London close: Flat finish for FTSE 100

There was plenty of movement in both directions Tuesday, but Footsie closed just a few points lower. Government spending cuts and their effect on the...

TechMARK movers: Spending cuts slow C&W Worldwide growth
20 Jul 2010

TechMARK movers: Spending cuts slow C&W Worldwide growth

Telecoms services provider Cable & Wireless Worldwide heads the fallers on TechMARK after it warned that the coalition government's emergency budget w...

London afternoon: Cautious note from De La Rue
20 Jul 2010

London afternoon: Cautious note from De La Rue

Footsie lost more ground over the lunch time session with barely a fifth of the blue-chip index's constituents remaining in the red, and many of those...

London midday: Public sector specialists hit
20 Jul 2010

London midday: Public sector specialists hit

Sovereign debt worries are haunting investors again after Hungary cut back its treasury bill offering by 10bn forints to 35bn. European stock markets ...

MARKET TALK: Panmure Lowers Logica Target Price
19 Jul 2010

MARKET TALK: Panmure Lowers Logica Target Price

0941 GMT [Dow Jones] Panmure Gordon lowers Logica (LOG.LN) target price to 163p from 168p. Says that European IT services companies are not dogged by ...

UK MARKET TALK ROUNDUP: SHARES GAINING
19 Jul 2010

UK MARKET TALK ROUNDUP: SHARES GAINING

Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Mark...

UK MARKET TALK ROUNDUP: BROKERS COMMENTS
29 Jun 2010

UK MARKET TALK ROUNDUP: BROKERS COMMENTS

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markett...