Registers increase of 143% in book to bill
Logica has reported actual revenues of £978m for the first quarter of fiscal year 2011, a marginal increase of 4% compared to £939m for the same period last year.
For the first quarter 2011, the company’s orders increased to £1.4bn, compared to £1.1bn in the same quarter previous year.
Book to bill increased to 143% in the first quarter of 2011, compared to 116% in the first quarter of previous year.
Logica said that its outsourcing services revenue was up 13% to £415m in Q12011. Consulting and professional services revenue stabilised at £563m.
Geographically, revenues from France, North and Central Europe, and Sweden increased to £224m, £210m, and £159m respectively, while revenue from the UK and Benelux decreased to £179m and £121m respectively.
Logica CEO Andy Green said the company 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, Green added.
"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," Green said.