Turnaround in America helps Logica

Click to follow
LOGICA, the software house, yesterday reported almost doubled taxable profits of pounds 7.1m for the year to 30 June on a marginal rise in turnover to pounds 200m.

The results reflect a sharp turnaround in North America thanks to cost-cutting and greater emphasis on marketing. There was an improved Far East contribution, but continental Europe slipped to a loss after a slowdown in Germany and the Netherlands.

The company said that the defence and government sectors showed significant growth but the financial sector remained weak.

Earnings per share jumped to 7p against a 1.6p loss last time. A final dividend of 2.5p lifts the total 4 per cent to 3.65p.

Despite tough overall trading conditions, Logica said growth prospects this year were good.