Headlines
Group orders up 10% for the nine months to September driven by continued strong
growth in Outsourcing
Revenue for the nine months to September up 4%, with third quarter revenue up
2% on last year to £914 million
Outsourcing revenue growth still strong, up 10% on a year to date basis and up
8% in the quarter
Consulting and Professional Services broadly stable for the nine months to
September despite third quarter revenue down 3% and mixed trends across our
markets
Revenue up in all geographies except the Benelux on a year to date basis, with
particularly strong third quarter growth in the UK
Revenue growth expected to be above 3% for the year, with adjusted operating
margin now to be in the range of 6.5% to 7.0%
Year endnet debt/EBITDA expected to be comfortably below 1.0x; strong second
half cash conversion expected
Commenting on today's announcement, Andy Green, CEO said:
"Logica has continued to respond to client needs and to win new orders, with
Outsourcing orders up 22% so far this year and a solid book to bill in
Consulting and Professional Services. This will continue to drive growth in
revenue in the fourth quarter.
The pockets of softness that became apparent in September mean we now expect
2011 margin to be in the range of 6.5% and 7.0%, with the clear actions we are
taking in the Benelux and Sweden expected to drive benefits over the medium
term."
