Logica reports strong first quarter orders and revenue

04 May 2011


Headlines 1

  • Strong growth in orders, up 29% to £1,399 million
  • Revenue growth of 5%, with Consulting and Professional Services revenue stabilised after nine quarters of decline and Outsourcing Services up 13%
  • Growth driven by the commercial sectors, up 9% across the Group
  • Continue to expect growth above the market and modest margin improvement in 2011
  • Net debt/EBITDA to be below last year at the end of 2011 (2010: 0.8x)

For the first quarter ended 31 March 2011, results were as follows:

Q1 2011 actual Q1 2010 pro forma* Q1 2010 reported Q1 2011 growth % actual Q1 2011 growth % pro forma*
Orders (£m) 1,399 1,088 1,093 28 29
Revenue (£m) 978 932 939 4 5
Book to bill (%) 143 117 116

*Q1 2010 revenue adjusted for the impact of acquisitions and disposals at Q1 2011 exchange rates

Commenting on today’s announcement, Andy Green, CEO, said:

“We had a good start to the year on revenue, up 5%, and orders, up 29%. The order performance in the UK was particularly encouraging, boosted by significant multi-year contracts with the Serious Organised Crime Agency and Shell. The Michelin and Welsh Water contract extensions are also good examples of our ability to build long term client relationships.

“The Consulting and Professional Services market is recovering, strengthening order and revenue growth in the commercial sectors. Our focus across the Group remains on ensuring we have the right mix of resource to meet demand through 2011.”

1 All headline numbers relate to pro forma numbers as defined in Note 2 on page 5 of the attached PDF document

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For further information, please contact:

Logica Investor relations: Karen Keyes/Jose Cano
+44 (0) 7801 723682/+44 (0) 7525 273666/+44 (0) 20 7446 1338

Logica Media relations: Carolyn Esser
+44 (0) 7841 602391

Brunswick: Tom Buchanan
+44 (0) 20 7404 5959

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