Nine months revenues for 2009/10: 75.3 million euros, up 1% – Confirmation of annual objectives

In €m	2009/10	2008/09	Change
H1 turnover	48.3	47.7	+ 1%
Q3 turnover	27.0	26.6	+ 2%
Total	75.3	74.3	+ 1%

 

Solucom's consolidated turnover was €27.0m in the third quarter of the 2009/10 financial year, up 2% compared to the same period in the previous year. Market conditions continued to be difficult in the wake of the first half of the year, with clients' budgets remaining restricted and strong competition.

The consulting firm's turnover for the first nine months of the year was €75.3m, showing slight, purely organic, growth of 1%.

Stabilization of operating indicators

The firm's overall activity rate for the first nine months of the year was 79%, compared to 78% at the end of the first half of the year. This indicator has returned to the same level as for 2008/09.

As forecast, the consulting firm has gradually reinstated recruitment within the most resistant practices. Solucom had 981 employees on 31 December 2009, compared to 965 at the end of the first half of the year.

Cosmosbay~Vectis: recovery in line with forecasts

The slight improvement in the firm's activity rate was, among other things, due to the recovery in Cosmosbay~Vectis' rate during the last quarter, which rose to 65% compared to 57% for the previous quarter.

Cosmosbay~Vectis' recovery is currently in line with the forecasts that were revised with the publication of the half-year results.

Confirmation of 2009/10 financial objectives

Solucom's priorities remain, more than ever, the continuation of the recovery programme for Cosmosbay~Vectis and the securing of activity rates.

While staff turnover has risen slightly in the third quarter, by 8% on an annualized basis, the consulting firm will continue with its cautious recruitment policy, with no plans to increase the workforce significantly between now and the end of the financial year.

Spending commitments remain tightly controlled, except in relation to business development, an area in which Solucom intends to keep up a high level of investment.

Solucom confirms its annual financial objectives: turnover exceeding €100m and an operating margin of between 7% and 9%.

Upcoming dates: turnover for 2009/10 on 11 May 2010 (after closing of the stock market).

 

About Solucom

Solucom is a management and IT consulting firm.

Solucom's customers are among the top 200 large companies and public bodies. For them, Solucom is capable of mobilizing and combining the skills of nearly 1,000 staff members.

Our mission statement? To place innovation at the heart of business lines, target and steer transformations that are sources of added value, and turn the information system into an actual asset designed to serve corporate strategies.

Solucom is listed on NYSE Euronext Paris and has been granted the innovative company award from OSEO Innovation.

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