Logica surges on bullish update

SHARES IN Logica, the computer services and software group, rose to a record high yesterday after a bullish trading update was issued by the the company.

Logica said it would generate strongly positive cash flow in the second half of its current financial year, "leaving the balance sheet in an excellent position to support further growth and acquisition activity in 1998/99".

It also said that it expected to report substantial revenue growth and continued margin improvement for the current financial year.

Logica's shares closed up 105p, or 5.36 per cent, at 2,062.5p.