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

London pre-open: FTSE set for reverse
7 Aug 2009

London pre-open: FTSE set for reverse

London is expected to open lower today following last night's decline on Wall Street and as investors get nervous ahead of today's big US jobs data. ...

Logica profits up 85%
7 Aug 2009

Logica profits up 85%

Logica saw profits surge 85% in the first half and said its cost saving programme will ensure it maintains margin for the year Lower exceptional ite...

London close: Meek end to bumper week
31 Jul 2009

London close: Meek end to bumper week

Blue chips ended a near-record breaking week on a low note. Footsie closed down sharply after disappointing second quarter consumer spending figures i...

London afternoon: US consumer spending casts pall
31 Jul 2009

London afternoon: US consumer spending casts pall

The Footise dropped sharply after disappointing second quarter consumer spending figures in the US. Insurers lead the market lower ahead of the se...

London midday: Equities move sideways
31 Jul 2009

London midday: Equities move sideways

Leading shares remain mixed but with a slight bias to the upside, helped by improved sentiment towards travel stocks. British Airways is a bright spo...

FTSE 250 movers: WS Atkins up after results
17 Jun 2009

FTSE 250 movers: WS Atkins up after results

Design and engineering consultancy group WS Atkins went ahead after it saw revenue and profits rise last year. It also said it already has half of its...