LogicaCMG reports FY results

Source: Logica

Headlines

  • Revenue up 3% on a pro forma basis
  • Strong revenue growth across major European countries and in the UK Public Sector offset by weakness in the UK commercial sectors
  • Solid underlying profit performance in major geographies outside the UK
  • Weaker operating profit offset by lower tax rate at EPS level
  • Strong cashflow with cash conversion of 126%
  • Net debt of £483.2 million, after the £130.0m share buyback completed in Q4 2007
  • Continued growth in dividend, up 4% to 5.8p
  • New CEO in place since 1 January; outcome of review to be communicated by the beginning of May
  • Logica name adopted across the group from today; important step in wider integration of the business


Commenting on today's announcement, Andy Green, CEO, said: "Everyone at Logica understands the need to improve on our 2007 performance. We are committed to delivering value to shareholders and customers alike.

"In my first few weeks, I have heard from our customers that they see us as open, flexible and local. The launch of the Logica brand creates a real opportunity to add to these strengths, with innovative services from across the group backed by best-in-class blended delivery from around the world. We will set out how we expect this to create value for our shareholders by the beginning of May."

Read the full statement here:» Download the document now 106.4 kb (PDF File)

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