Logica remains cautious on prospects for uptick in European IT spending


Reuters

LONDON — Anglo-Dutch IT services group Logica remained downbeat on the outlook for technology spending, particularly in the financial services and telecoms sectors, as its customers fret about Europe’s economies. Demand for IT services has weakened in Europe in tandem with the region’s economic fortunes, and Logica has forecast that revenue would be broadly flat — in the range of plus 2 percent to minus 2 percent — this year. The group posted revenue of 971 million pounds (US$1.6 billion) for the first quarter on Friday, compared with a pro forma 974 million a year ago.