Cap Gemini issues profits warning
IT consultants Cap Gemini Ernst & Young has issued a profits warning as a result of slower recovery in key European markets.
CGE&Y has lowered its target for this year’s operating margins from 5% to 4%.
Recovery was slower than expected in France, Italy and the Nordic countries.
The disappointing progress was partly offset by recovery in the UK, Benelux and Spain, while the firm said that prospects in North America were also looking brighter.