By Lilly Vitorovich
Of DOW JONES NEWSWIRES
LONDON -(Dow Jones)- Anglo-Dutch computer services group Logica PLC (LOG.LN) Wednesday posted an increase in revenue and orders for the third quarter from a year earlier, driven by its outsourcing division, and maintained its full-year margin guidance.
Revenue rose 2% to GBP862 million in the quarter ended Sept. 30, ahead of market expectations of around GBP853 million. That compares with GBP845 million a year earlier.
Pro forma revenue--which strips out acquisitions and disposals as well as currency movements--fell 4% over the same period.
In the second quarter of 2009, revenue was up 2%, but on a pro forma basis revenue was down 4%.
Logica provides consulting, outsourcing and information technology services to companies in Europe, competing with International Business Machines Corp. (IBM), and France's CapGemini (CAP.FR) and Atos Origin (ATO.FR).
Logica, which counts Airbus, Finnair Oyj AKT (FNNNF), Statoil Hydro SA (STO), Coca-Cola Co. (KO), Cie Generale des Etablissements Michelin (ML.FR) and the U.K. Ministry of Defence among its customers, reported a 16% jump in third-quarter orders. On a pro forma basis, orders were up 6%.
The group maintained its full-year margin guidance of around 7.5%.
Chief Executive Andy Green said in a statement that the group's "pipeline of outsourcing opportunities remains strong, balanced by continued market weakness in consulting and professional services."
Logica shares closed at 115 pence Tuesday, valuing the company at GBP1.84 billion. The stock has risen 67% since January on hopes of improving trading conditions.
Company Web site: www.logica.co.uk
-By Lilly Vitorovich, Dow Jones Newswires; 44-0-207 842 9290; lilly.vitorovich@dowjones.com
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