The decline in Paris-based IT services and software firm Sopra Group’s UK business appears to be worsening, with Q3 pro forma revenues (to 30th Sept.) down 3.7% yoy to €28.6m, compared with a 2.7% yoy decline in first half (see Sopra suffers ill winds in UK waters). Despite two acquisitions earlier this year (see Sopra UK goes shopping (again) to double size), Sopra UK still does not have the critical mass necessary to provide some protection from the fiercely competitive market conditions.
Sopra Group revenues grew by 1.1% (organic) to €290m, on the back of 1.0% growth in France (80% of the total) and 1.7% growth in the rest of Europe. Management says the company is still on track to end the year with ‘slight’ improvement in growth and ‘very slight’ margin expansion.