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Logica hit by IT spending slowdown

Logica's profits and sales dropped last year as IT departments cut their spending, but outsourcing demand is on the up and UK sales have increased. The supplier reported a profit of £272 million, a 6% fall, on £3.7 billion worth of sales in 2009. This compared to £289 million profit on sales of £3.8 billion in 2008.

Looking forward to 2010, the company said demand for outsourcing services is strong in the private sector and governments across Europe want to outsource to meet their-cost cutting commitments.

Source: Computer Weekly


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