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Logica in line to meet forecasts

By Sonya Rabbitte

Published: 7 June 2000 16:50 BST

Logica announced today that it expects to meet market profit forecasts for the second quarter, and margins should be slightly above target.

The company also said order intake for the year was expected to increase and outpace revenue growth.

The forecast results, announced at today's annual business review meeting, stem from market growth in the telecoms and utilities fields, where Logica earns 60 per cent of its revenue.

A spokesman for the company said, despite tumbling share prices, deregulation and wireless communication developments were the driving force behind continued growth in these markets.

Cameron said: "Technology and telecom stocks have taken a hit over the past few months, but over the past year it has been a growth market and will continue to be so."

The forecasts are for the year's trading ending June 30. Commenting on the forecasts, Cameron said: "We're in line with the analysts consensus. There are no surprises."

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