1 Min Read
Jan 30 (Reuters) - Canadian IT services company CGI Group Inc's quarterly profit fell 79 percent due to costs related to the acquisition and integration of larger rival Logica Plc.
Montreal-based CGI, which bought Logica for $2.64 billion in August, said its profit fell to C$22.4 million, or 7 Canadian cents per share, from C$106.5 million, or 40 Canadian cents per share, a year earlier.
Excluding integration-related costs, the company earned 44 Canadian cents per share.
Revenue more than doubled to C$2.53 billion.
CGI, which provides technology outsourcing and consulting services, booked C$2.85 billion in new contracts, extensions and renewals, up from C$1.4 billion a year earlier.