PracticeConsultingCapgemini sees sales fall

Capgemini sees sales fall

Newly re-branded IT services giant Capgemini has announced a fall in sales but expressed confidence for the future.

Link: Visit the new management consultancy website

Weeks after dropping the suffix Ernst & Young from its name, the company said sales for the first three months of 2004 were down 5% year on year to €1.48bn (£1bn), The Guardian reported.

On a brighter note, sales rose 6% from the previous quarter. Paul Hermelin, chief executive, said: ‘I am confident that business in the second quarter will confirm stabilisation and growth in the second half of the year.’

Capgemini, which employs 55,000 people across 30 countries, said that while revenue was steadily stabilising across Europe, the significant North American market was yet to show the same progress.

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