Steria revenue up slightly as investments hit profits

Steria is positive about 2011, despite reporting an 11% drop in profits and a slight increase in revenues for 2010 compared to 2009.

Steria is positive about 2011, despite reporting an 11% drop in profits and a slight increase in revenues for 2010 compared to 2009.

Revenue for 2010 was 1.5% higher than 2009 at €1.69bn and profit was 11% down at €42.9m. The company's profit was down as a result of investments made in 2010 to "accelerate the industrialisation of product lines."

During the year, Steria UK signed one of its biggest contracts so far when Cleveland Police Authority put pen to paper on a £175m shared services contract.

For 2011, Steria expects between 3% and 4% revenue growth compared to 2010.

"In an improving IT services market the group expects its organic growth to accelerate in 2011. The positive activity trends seen from the beginning of 2010 were confirmed by a high level of order intake during the financial year, particularly towards the year end," says a company statement.

Logica and Capita have both reported good sales activity in the early months of 2011.

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