LONDON (dpa-AFX) - Logica Plc (LOG.L) said its third quarter revenue grew 6% to 914 million pounds from 863 million pounds last year. Revenue was up 2% on last year on a pro forma basis.
Revenue for the nine months to September grew 4% to 2.91 billion pounds year-over-year on a pro forma basis.
Revenue was up in all geographies except the Benelux on a year to date basis, with particularly strong third quarter growth in the UK.
Looking ahead, a strong Outsourcing backlog and the good balance of its business means the company expects its business to grow in the fourth quarter, with revenue growth expected to be above 3% for the full year and the UK back to growth.
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.'
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