LogicaCMG publishes profit warning

The Anglo-Dutch IT company LogicaCMG issued a profit warning on Tuesday, forcing its share price down over 10%. The company announced full-year UK sales would be lower than forecast.

Over the first quarter, UK turnover was down 4% at €254m, due in part to the ending of a major contract and one-off costs. The UK accounts for over 20% of total sales.
Total earnings were up 36% year on year, following the take over of Swedish firm WM-data. Exclusive of acquisitions, sales were up 4.3%, with growth of 9% recorded in the Netherlands.

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