Logica - Two very different views

(By Richard Holway 10.00pm 23rd March 09) Readers interested in the fortunes of Logica have two rather contrasting reviews to contemplate. The FT (19th Mar 09) Busy Logica says IT orders holding up well has some pretty sceptical quotes from analysts such as “Anyone can sign contracts, the trick is [to keep] them profitable. The problems at BT Global Services have really shaken faith,” said Adam Wood, an analyst at Exane BNP. Or “Last April he promised 6-8 per cent revenue growth. He revised it down in August and now he is saying it will be flat. Who is to say he won’t revise it to minus 2 next month?” said Julian Yates at Investec.

Conversely, those that want the rose-tinted, completely non-critical, some might say even sycophantic version, should read Implementing change means there is no time to rest for Logica chief in The Times today.