Accenture has seen its Q4 profits slump 41% to $254.7m and
warned that demand for technology outsourcing and consultancy
services will remain tight again in the next financial year.
Turnover for the 3 months ended 31 August fell 16% on a year ago
to $5.51bn with a 19% and 7% drop in consulting and outsourcing
sales respectively.
Profits were hit by a $253m restructuring charge related to
senior level workforce cuts and global real estate
consolidation.
For the full fiscal year, revenues were flat in local currency
to $21.58bn and profits were $1.58bn, down 7.2% on 2008. The
communication and high tech segment saw revenues fall 4% to
$4.8bn.
William Green, Accenture CEO, sought to put a brave face on the
earnings "in challenging economic conditions" and said the company
continued to invest in preparation for the upturn.
"We remain focused on operational discipline," he said and had
taken "proactive steps - including refreshing our core business and
investing in new high-growth areas - that have positioned us very
well for the upturn."
Accenture said it expected full fiscal year 2010 revenues to
range from a 3% drop to 1% growth.
A version of this story appeared on
Microscope.