Surprising burst of energy proves useful for Logica
Logica has seen surprising revenue growth in its energy and utilities business, particularly in the UK.
“Our results were good, better than people expected. We were surprised about the high growth in energy and utilities,” said Andrew Given, group finance director for Logica.
Energy and utilities revenues were up 135 per cent for the first six months ending December 1997. In the UK revenues grew by 35 per cent to #105.4m; operating profits grew 43 per cent to #8.5m. Worldwide Logica saw revenues were up 46 per cent to #216.3m Worldwide headcount grew by 15 per cent to 5,900.
“I think that market expectations are that we will do revenues of #460m worldwide for the year ending June 1998, compared to #338m for the year ending June 1997,” Given said.
He added: “Our consulting business is growing broadly in line with the rest of the business; in terms of organic growth consulting was up 33 per cent. We have paid more attention to consultancy, actively recruiting more senior consultants into the business.”