SOLUCOM : A strong start to the 2010/11 fiscal year: turnover growth an organic 8% during Q1

¤ millions 2010/11 2009/10 Change
Q1 turnover 27.9 25.8 + 8%

In the first quarter of fiscal 2010/11 (which will end on 31st March 2011), Solucom recorded consolidated turnover of ¤ 27.9m, purely organic growth of 8% on Q1 2009/10.

The beginning of the current fiscal year was characterised by a globally favourable market context, with strong demand in all sectors of activity, with the exception of the public sector, which was held back by budgetary restrictions.

Solucom has also benefited from a calendar effect during the quarter, with 2 additional business days in the period.

A net progression in overall level of activity in Q1 2010/11

In this context, level of activity stood at 86% in Q1 2010/11, a clear progression compared to the entire last fiscal year at 80%. All of the firm's practices saw their activity level improve, including those in difficulty in 2009/10, which are now near their normal levels.

The firm's head count was down at the end of June, to 945 staff as compared to 978 at the end of March. Solucom saw a large increase in staff turnover in the first quarter, at 17% on an annual basis, and relative inertia in the relaunch of its recruitment rate. Human resources will be a key factor of success for this fiscal year, with the intensification of endeavours aiming to bring staff turnover under control and to foster a new acceleration in the recruitment effort.

Annual financial objectives confirmed

The first quarter has shown a good start to fiscal 2010/11 in line with the current business plan which sees a relaunch of organic growth and the likelihood of regaining a double-digit gross operating margin.

Next announcements: General Meeting, 24 September 2010; H1 2010/11 turnover, 21st October 2010 (after closing of the stock market).

About Solucom

Solucom is a management and IT consulting firm.

Solucom's customers are among the top 200 large companies and public bodies. For them, Solucom is capable of mobilizing and combining the skills of nearly 1,000 staff members.

Our mission statement? To place innovation at the heart of business lines, target and steer transformations that are sources of added value, and turn the information system into an actual asset designed to serve corporate strategies.

Solucom is listed on NYSE Euronext Paris and has been granted the innovative company award from OSEO Innovation


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