Feeds

Logica reports revenue slump

Looking for new CEO

Intelligent flash storage arrays

Computer services firm LogicaCMG reported a decline in its first half revenues, ended 30 June 2007, but expects the full year to be back on track.

Revenues in the UK fell nine per cent due to "anticipated weakness" in the commerical sector - half this was due to the loss of one contract.

The Anglo-Dutch firm had issued a profit warning in May predicting the UK revenue fall.

Logica said in a statement: "In line with our previous guidance, we expect sequential revenue growth in the second half, with full year UK revenue slightly lower than 2006."

Elsewhere in Europe, the firm said organic revenue growth continued to be strong - both Germany and France saw revenue grow by 10 per cent.

It expects to see European revenue growth of between four and six per cent in the second half of this year.

On the international front, which includes the Asian market, Logica said revenue remained the same as 2006 on a pro forma basis.

CEO Martin Read said in May that he planned to retire from the firm. Logica has now confirmed he will stand down on 21 September.

Jim McKenna, who is currently chief operating officer, will assume the role of interim chief executive while the firm continues its search for a replacement.

David Tyler has also joined the board as non-executive deputy chairman.

Logica said: "The board remains focused on appointing the best candidate to run the business and deliver value to shareholders."

Logica's headcount grew by two per cent in the period to 38,496 people.

The firm's interim results will be announced on 29 August. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Same old iPad? NO. The new 'soft SIMs' are BIG NEWS
AppleSIM 'ware to allow quick switch of carriers
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Brits: Google, can you scrape 60k pages from web, pleeease
Hey, c'mon Choc Factory, it's our 'right to be forgotten'
Of COURSE Stephen Elop's to blame for Nokia woes, says author
'Google did have some unique propositions for Nokia'
It's even GRIMMER up North after MEGA SKY BROADBAND OUTAGE
By 'eck! Eccles cake production thrown into jeopardy
Mobile coverage on trains really is pants
You thought it was just *insert your provider here*, but now we have numbers
Don't mess with Texas ('cos it's getting Google Fiber and you're not)
A bit late, but company says 1Gbps Austin network almost ready to compete with AT&T
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.