LogicaCMG FY outlook unchanged

14.05.2008

Anglo Dutch IT company LogicaCMG said first quarter revenue rose by 3.6% on a pro forma constant currency basis as it outlook for the full year remains unchanged.

The group, which announced 1,300 job cuts in April as part of a restructuring plan, said today that it had seen good growth in Europe over the quarter while UK revenue remained stable, with positive momentum into the second quarter.

Revenue for the first four months to the end of April increased 6%.

"We are reaffirming our 2008 guidance today," the group said in a company statement.

Logica expects 2008 revenue growth of around 3% at constant currency while margins stand around the 7.6% seen in 2007.

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