IT services company Sema has turned in what it describes as 'disappointing' results with pre-tax profits down 4.4 per cent on last year to £91.9m.
Published: 16 February 2001 13:01 GMT
Turnover was up 7.3 per cent on 1999 from £1.41bn to £1.51bn.
The results come after two profit warnings from the Anglo-French company. However, Sema said its strategic direction remains sound and it has embarked upon activities to improve performance.
The company said it has put in place a detailed integration plan following its acquisition of telecoms company LHS, including the finalisation of a product development roadmap.
Sema also said it is going to implement general and administrative cost-cutting measures across the group in the first half of this year.
Earlier this week, it was announced that Schlumberger will acquire the company for £3.6bn.
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