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

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

Wednesday broker round-up - UPDATE
22 Feb 2012

Wednesday broker round-up - UPDATE

Vodafone: Credit Suisse cuts target from 175p to 170p, outperform rating kept. Vedanta Resources: Credit Suisse maintains neutral rating and 1,400p t...

London open: Footsie slips as ex-div stocks provide a drag
22 Feb 2012

London open: Footsie slips as ex-div stocks provide a drag

- Shell makes near-£1bn bid for Cove Energy. - Markets digest Greek bailout, China data. - Ex-div stocks provide a drag. The FTSE 100 slipped slightl...

Logica leaps as it meets reduced expectations
22 Feb 2012

Logica leaps as it meets reduced expectations

After a couple of warnings last year about weakening revenues it was with some relief that Logica, a company that prides itself on helping other comp...

Thursday broker round-up
16 Feb 2012

Thursday broker round-up

Anglo American: AlphaValue upgrades to buy from add and raises its price target to 3,331.4p from 3,340.2p; Nomura resumes coverage with neutral rating...

FTSE 250 movers: Sports Direct winning the day's race
15 Feb 2012

FTSE 250 movers: Sports Direct winning the day's race

High street sportswear retailer Sports Direct sprinted into the top spot after it saw sales growth accelerate in the third quarter, saying that it wil...

Wednesday broker round-up - UPDATE
15 Feb 2012

Wednesday broker round-up - UPDATE

Essar Energy: Morgan Stanley upgrades to neutral from underperform. Anglo American: Citi downgrades to neutral from buy. International Consolidated...

Monday broker round-up - UPDATE
9 Jan 2012

Monday broker round-up - UPDATE

InterContinental Hotels: Deutsche Bank upgrades to buy from hold. Fresnillo: Deutsche Bank upgrades to buy from hold. Antofagasta: Deutsche Bank dow...

FTSE 250 Movers: Energy and mining rise despite falling prices
5 Jan 2012

FTSE 250 Movers: Energy and mining rise despite falling prices

Oil and gas producers were on the rise despite falling energy prices, with Afren, Ophir Energy, and Exillon Energy all higher. Miners followed suit de...