Capgemini CEO: Sees Return To Revenue Growth In 4Q 2010
November 05 2009 - 5:09AM
Dow Jones News
French IT Services group Capgemini SA (CAP.FR) is aiming to slow
progressively next year the declining trend in its revenue, and
expects to resume growth in the fourth quarter.
It is still to early to predict the revenue trend for next year,
Chief Executive Paul Hermelin said on a conference call with
reporters. But he said the Paris-based company starts the year in
the midst of a negative trend that will lead to a 9% like-for-like
revenue decline in the fourth quarter.
Capgemini is hoping to slow that rate of decline quarter by
quarter, with revenue turning upward in the second half, though the
likelihood is that the fourth quarter will show growth.
The improvements will be aided not only by more buoyant
business, but also by portfolio shifts Capgemini has been
undertaking to better position itself in markets, he said.
The company reported earlier Thursday that revenue fell around
7% in the third quarter to EUR1.95 billion, with a 9% drop in
like-for-like sales.
Despite lowering revenue targets for the full year and the
fourth quarter of 2009, the company maintained its outlook for 7%
growth in its operating margin, helped by deep cost cutting.
Company Web site: www.capgemini.com
-By A.H. Mooradian, Dow Jones Newswires, +33 1 4017 1740;
art.mooradian@dowjones.com
Capgemini (PK) (USOTC:CGEMY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Capgemini (PK) (USOTC:CGEMY)
Historical Stock Chart
From Jul 2023 to Jul 2024