5/2/2003 - Fujitsu Services Holdings PLC, one of Europe’s leading IT infrastructure management companies, announced a return to profitability after five years. The company made an operating profit before exceptional items of £59.6 million and a pre-tax profit of £30.5 million during the financial year 2002/3. Operating cash flow of £101 million was generated.
Richard Christou, CEO explains; “This return to profitability was achieved as a result of the performance of our underlying business. Contract performance has improved and productivity has increased significantly.”
Actions taken by the company in the past 18 months - including creating a new management team, selling non-core businesses, such as those in Eastern Europe and more recently KnowledgePool, and improving our financial discipline - have contributed considerably to stronger business performance.
Richard Christou, CEO states: “These results include the benefits of the restructuring programme launched at the end of the previous financial year in line with anticipated changes in the requirements of the markets. We now have a business that is more efficient, more responsive to customer needs and more adaptive to future market dynamics. All this adds up to a better customer service, increased customer value and improved business strength.”
“We are back on a profitable path; we can invest in further developing the services we provide to our customers and consequently growing our business in 2003/4.”
About Fujitsu Services
Fujitsu Services is one of the leading IT services companies in Europe, Middle East and Africa. It has an annual turnover of £1.86 billion (€2.8bn), employs 13,100 people and operates in over 20 countries. It designs, builds and operates IT systems and services for customers in the financial services, telecom, retail, utilities and government markets. Its core strength is the delivery of IT infrastructure management and outsourcing across desktop, networking and data centre environments, together with a full range of related services, from infrastructure consulting through integration and deployment.
Headquartered in London, Fujitsu Services is the European-centred IT services arm of the Fujitsu Group. The Fujitsu Group is a US$38 billion (€35 billion) leader in customer-focused IT systems and services for the global marketplace. Fujitsu Services website: www.services.fujitsu.com
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