Company expects organic revenue growth of between 3% and 4% its full-year 2011
French IT/business services provider Steria has posted consolidated revenue of EUR429.1m for the first quarter 2011, up 3.5% as compared to EUR414.6m in the same a year ago. On a like for like basis, group revenue rose by 1.3%.
Revenue from Consulting and Systems Integration grew by 2.2% to EUR268.7m.
Managed Services and Business Process Outsourcing was stable, held back by an unfavorable comparison base with the first quarter 2010.
According to the company, orders grew strongly in all geographical areas giving a book to bill ratio of 1.16 as of 31 March 2011 compared to 0.94 as of 31 March 2010.
The pipeline increased in volume compared to the first quarter 2010 and stood at 2.5 times forecast annual revenue as of 31 March 2011.
In the UK, revenue rose by 0.5% to EUR163.7m. On a like-for-like basis, revenue decreased by 3.3%.
In Germany, organic revenue growth was 3.8% due to good performance in the public sector and stabilization in the insurance sector, said the company.
In France, the 5.5% organic growth in revenue has been accompanied by an increase in the pipeline and orders, which stood at 1.09 times revenue as of 31 March 2011.
Steria has also confirmed its full-year 2011 guidance for organic revenue growth of between 3% and 4%, citing improving market conditions throughout Continental Europe and with the prospect of renewed organic growth in the UK as of the second quarter.