LogicaCMG revives in 2005
Mixed continental performance
Britain and the Netherlands delivered a bumper year for LogicaCMG in 2005, as it also benefitted from its IT workshops on the Indian sub-continent.
British and Dutch markets both did well for LogicaCMG in 2005. Increased demand in a tight labour market resulted in high utilisation of what is the most expensive resource for IT firms - staff - despite heavy recruitment and use of offshore resources.
Revenues were up 10.6 per cent overall, to £1.8bn, with half of the increase coming from acquisitions in Iberia (Edinfor) and France (Unilog). Profits before tax were up a third, to £105.6m, despite a poor performance in much of Europe.
Performance in the main Continental economies was near stereotypical: France was characterised by "rationalisation", Germany as "difficult". ®