Thursday, 5 November 2009

Charteris revenues slump

(By Richard Holway 9.00am Thurs 5th Nov 09) One of the ‘redeeming factors’ in the Logica and Capgemini results that we have brought you in the last 24 hours has been outsourcing. Unfortunately, Charteris does not have such a benefit as its business is solely ‘business and IT consultancy’. So its not surprising that they have reported a 14% reduction in revenues (to £20.3m) in the full year to 31st July 09 (Yes – you read that right. As everyone else is reporting to 30th Sept, Charteris is bringing us results of three months back). EPS halved and profits fell from £1.4m to £438K.

The reasons are well rehearsed. “Challenging trading conditions”, “Recession in the UK”, “Spending delays and uncertainties”. You won’t get much optimism from the outlook either. “No improvement in the short term”. “Business will continue to perform at a similar level to that achieved in H2”.

So now we have a trio of results all indicating depressed corporate IT spend and no immediate up-tick in prospect.

No comments:

Post a Comment