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Cost cutting has helped Olympic games supplier Atos Origin reduce its debts and place itself in a stronger position for the year ahead.
As it unveiled its numbers for the 2009 financial year the consulting and outsourcing specialist saw net debt reduced by more than half to 139m Euros from 304m Euros at the end of 2008.
For the financial year ended 31 December Atos Origin reported a 9% increase in net income to 196m Euros with revenue falling by 3.7% to 5,127m Euros.
Thierry Breton, chairman and CEo of Atos Origin, said that the cost reduction programme had helped improve operating margin and put the firm in a better position for this fiscal year.
"The transformation in the Group, in particular through its deep reorganisation...allows us to pursue in 2010 according to our plan the improvement of the profitability and the reduction of the financial debt," he said.
In terms of business units the consulting revenue dipped by 23.7% hit by delays and cancellations to projects and the systems integration revenue also fell by 11.2% as a result of the recession.
Managed services grew 4.4% with the UK leading the way with organic growth of 22%.