Capgemini records UK recovery

Capgemini’s revenues in the UK (& Ireland) grew at their fastest pace for the past four quarters, recording 3.9% yoy like-for-like growth in Q1 ‘12, to reach €510m. This was a better result than the rest of Europe in aggregate, though the much smaller Nordic region saw revenues spurt by 13% and the Germanic region by 7%. As expected, there was still ‘trouble at t’Dutch mill’, with Benelux revenues down nearly 8%. Headline revenues for Capgemini worldwide reached €2.57b, up 9.2% as reported and 4.3% like-for-like. CEO Paul Hermelin confirmed his forecast of ‘limited organic growth and an improvement in the operating margin’ for 2012. More later.