April 28, 2020 / 5:11 AM / a month ago

Nordic IT services firm TietoEVRY Q1 profit rises

HELSINKI, April 28 (Reuters) - Nordic IT services provider TietoEVRY reported on Tuesday a rise in January-March quarter profit, driven by its cloud and infrastructure businesses, and said it would reach higher-than-expected synergies in 2020.

The company, which finalised the takeover of Norwegian EVRY’s businesses in December, reported its adjusted operating profit rising to 78.2 million euros ($84.6 million) from pro forma 74.7 million a year earlier.

The company said integration of the two businesses was proceeding well and it would reach end-of-year synergies of 45 million to 55 million euros instead of the earlier expected 30 million to 40 million.

At the end of March, TietoEVRY withdrew its 2020 guidance and scrapped its April dividend payment due to the coronavirus pandemic. ($1=0.9243 euros) (Reporting by Anne Kauranen; Editing by Clarence Fernandez)

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