Logica leaps as it meets reduced expectations

After a couple of warnings last year about weakening revenues it was with some relief that Logica, a provider of computer programming contractors, said its 2011 results were in line with guidance it issued in mid-December.

After a couple of warnings last year about weakening revenues it was with some relief that Logica, a provider of computer programming contractors, said its 2011 results were in line with guidance it issued in mid-December.

In fact, the numbers look a bit better than the market was expecting, although the figures are riddled with notes about adjustments reflecting discontinued operations and exceptional items so it is difficult to determine whether apples are being compared to apples.

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