Profits soar at EDS

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Profits soar at EDS

Antony Savvas

Net profit at outsourcer EDS rose from £235m in 2006 to £358m last year, a jump of 52%.

In addition, full-year total revenue for 2007 increased by 4% to just over £11bn.

But full-year 2007 total contract value was £9.75bn, down 26% on the prior year.

"EDS enters 2008 a stronger and more competitive company," said CEO Ron Rittenmeyer. "Our financial priorities include driving sustainable operating margins and continuing to enhance our capabilities in higher-margin application services."

The results come after the company offered early retirement to 12,000 staff last year, and include some of the associated costs.

Kraft signs £1bn deal with EDS >>



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