Logica’s UK sales fall 5%

The UK division of IT services supplier Logica saw revenue fall by 5% to £709 million in 2010, thanks in part to the government’s IT spending.

The company’s UK CEO Craig Boundy insists, however, that 2011 has got off to a "great start", pointing to the £157 million deal with the Serious Organised Crime Agency, on which Logica is the lead contractor.

Overall, Logica nudged revenues up by 1% year-on-year to £3.7 billion for the financial year on a pro forma basis (i.e. applying 2010’s exchange rates to 2009’s revenue). Profit before tax rose by 150% from £40 million to £193 million.

Logica’s 2010 figures contrast with the previous year, when UK revenues grew 6% and all geographies fell. This year, as UK sales declined, the company’s France and Northern and Central Europe divisions both grew by 7%. Benelux sales fell in both years, however.

Pete Swabey

Pete Swabey

Pete was Editor of Information Age and head of technology research for Vitesse Media plc from 2005 to 2013, before moving on to be Senior Editor and then Editorial Director at The Economist Intelligence...

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