Feeds

LogicaCMG racks up revs, profit gains

Told you the merger was a good idea

Boost IT visibility and business value

LogicaCMG claims its just-released preliminary results prove the merger which created the firm is showing long term benefits – almost three years down the line.

The services group's revenues for the six months ending 30 June were up 10.9 per cent on the year to £891.7m. This generated operating profit up 23.3 per cent to £40.8m and pre-tax profits of £37.7m, up 46 per cent.

IT services accounted for 87 per cent of total revenues at LogicaCMG, and were up 8.6 per cent on the year. Wireless services were up 7 per cent, and achieved “a major turnaround in profitability” compared to the previous year.

LogicaCMG chief executive Dr Martin Read said the long term benefits of the merger of Logica and CMG – wrapped up in late 2002 – are “now very much in evidence.”

The firm said it still expects organic revenue growth of 5 per cent for the year. Including the Edinfor acquisition earlier this year, growth will be 10 per cent.®

Best practices for enterprise data

More from The Register

next story
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?