Steria Q1 revenue up 4.6%
13/05/2010
Steria's pipeline increased as a proportion of revenue, confirming the initial signs of an improving market environment.

Fuente:  www.consultant-news.com    Fecha:   13.05.2010

Steria Q1 revenue up 4.6%

For its first quarter of 2010, the Steria’s consolidated revenue amounted to €414.6 million, an increase of 4.6% compared to the first quarter 2009. Currency variation, particularly in sterling, contributed €6.3 million to revenue growth. On a like for like basis, Group revenue rose by 2.9% relative to the first quarter 2009.

The banking sector, which showed signs of improvement, the public sector and the energy sector contributed positively to growth in the first quarter 2010, while the telecommunications sector remained difficult.

The pipeline, measured as a proportion of forecast annual revenue, rose in all of the Group’s geographic areas relative to the first quarter 2009. As of 31 March 2010, the Group’s pipeline stood at 2.5 times forecast annual revenue, compared to 2.1 times as of 31 March 2009.

In France, the improving trend seen in the final quarter of 2009 was confirmed in the first quarter 2010 with organic revenue growth of 2.6% relative to the first quarter 2009. The progressive strengthening of the activity throughout the quarter, the encouraging pipeline trend and an intercontract rate that was kept low confirm that the business in France has returned to a positive trend.

In the United Kingdom, revenue rose by 1.7% at constant currency. In a challenging economic and political environment, the Group expects, given its solid position with long-term contracts notably in the public sector, revenue for the full-year 2010 to be stable compared to 2009 at constant currency, after a slight dip in the first half-year.

In Germany, organic revenue growth rose by 4.8%. This good performance, achieved in a market that has not yet recovered its dynamism, highlights the quality of Steria’s positioning and offer.

Other Europe showed a strong trend with 5.0% organic growth in revenue. In Scandinavia growth was again very strong with 14.2% organic growth and in Spain the rate of revenue decline slowed significantly.