LogicaCMG: RFID on the Threshold of European Breakthrough
LONDON, April 15 /PRNewswire/ -- The key findings of an international study undertaken by LogicaCMG (LSE: LOG.L - news - msgs) ADVERTISEMENT


reveal that Radio-Frequency Identification (RFID) is high on the agenda for European retailers, food manufacturers and logistic service providers. A majority of the companies interviewed in the Netherlands, UK, Ireland, Germany, France and Belgium, gave RFID top priority in terms of planned IT investment.

RFID is seen as the successor to barcoding. By using RFID it is possible to electronically identify and track objects, such as supermarket goods, without time delays or the need for human intervention. As a result, supply chain logistics are more streamlined and efficient and this ultimately leads to lower costs and higher revenues.

The study shows that half of the 50 companies interviewed in Europe have or are planning to deploy RFID pilot projects throughout 2004, with the vast majority planning to start implementing the technology within the next three years. A number of major retailers, such as Tesco (LSE: TSCO.L - news - msgs) (UK) and Metro (Germany) will initiate large-scale rollout of RFID. Whilst these projects will be finalised by 2007, the research indicates that companies will not begin to tag consumer products until 2008 when prices of tags will have naturally lowered. The focus for the moment is on Returnable Transport Items (RTIs), such as crates and pallets. The tagging of these RTIs will be standard as of 2005. The research highlights when and how RFID will be used on a large scale for RTIs within European retail supply chains. Due to the large variety of RTIs in retail supply chains, the management, recording and administration is both complex and labour intensive. RFID is set to eliminate these concerns.

Since RFID will have great impact on the processes and IT systems of companies, it is necessary that they thoroughly prepare themselves. The use of RFID with RTIs will only take place if the financial benefits are greater than the cost of implementation. The cost/benefit analysis part of the research showed that based on a tag price of 50 eurocents the handling cost per pallet could decrease by 8.5%. This leads to a payback period of between two and three years.

A majority of companies that have trailed RFID prefer the EPC (Electronic Product Code) network as standard for information exchange and UHF (Ultra High Frequency) as frequency. In the short term there are a number of issues that should be solved before RFID can be broadly adopted. First, the EPC network has not been finalised yet. Second, limitations in European legislation mean that the use of UHF technology is currently restricted. Finally, the software to integrate RFID in the existing IT infrastructure is not mature yet. LogicaCMG anticipates that by the end of 2004, the main issues will be resolved. As volume deployments will increase in the next few years, the cost of RFID tags will be naturally lower.

Paul Stam de Jonge, Director Sales and Marketing of LogicaCMG: 'The research shows that we are on the threshold of a breakthrough of RFID technology in the European market. The quick introduction of the EPC network is key for the broad acceptance and implementation of RFID. For this reason we, together with many organisations within the sector, have put a lot of effort in the definition of the EPC network."

Since the whole supply chain is involved, the RFID implementations of the large retailers in 2005 will have a great impact on the food manufacturers, logistic service providers and retailers. According to Paul Stam de Jonge 'the RFID implementations will lead to an irreversible process in the retail market. In the short term, it is therefore of the up most importance for companies to gain knowledge and experience with RFID'.

About RFID technology

RFID technology is based on a relatively simple concept. It consists of two elements that communicate through radio transmission - a tag and a reader. The tag contains a small chip and an antenna and can be placed on any object. The information on the tag, such as an identification number, can be transmitted to an RFID reader over a distance of a few meters. The readers are placed in various locations throughout the supply chain. RFID allows objects to be electronically identified and followed throughout the complete distribution chain.

There are two main reasons for the application of RFID technology in RTIs. On the one hand it allows RTI pool organisers and logistic service providers to electronically follow the RTIs. On the other hand it allows manufacturers and retailers to follow and identify products. Both reasons result in a higher cost-effectiveness.

The dominant position of the retailers in the supply chain means that they have a leading role in the uptake of RFID. The study shows that retailers are particularly interested in tracking at an individual product level. Tagging at pallet level is not as crucial as they are often only used to transport the goods to the distribution centre, as opposed to throughout the entire supply chain.

NOTES TO EDITORS
About the research
- The research is an initiative of LogicaCMG in close co-operation with
EAN Netherlands and ECR D-A-CH and is sponsored by Checkpoint Systems (NYSE: CKP - news) ,
Euro Pool System, Intermec, Omron, Zetes, SAS and Container
Centralen A/S
- The geographies researched were the Netherlands, UK, Ireland, Belgium,
France and Germany
- The study consisted of 50 in-depth interviews with potential users of
RFID technology (retailers, manufacturers, logistics service providers
and RTI pool organisers) as well as extensive desk research
- As it is expected that Returnable Transport Items (RTIs) will be fitted
with RFID relatively quickly, the study focused on the application of
RFIDs in pallets, crates and containers within the supply chain

About LogicaCMG

LogicaCMG is a major international force in IT services and wireless telecoms. It provides management and IT consultancy, systems integration and outsourcing services to clients across diverse markets including public sector, telecoms, financial services, energy and utilities, industry, distribution and transport. Formed in December 2002, through the merger of Logica and CMG, the company employs around 20,000 staff in offices across 34 countries and has nearly 40 years of experience in IT services. Headquartered in Europe, LogicaCMG is listed on both the London and Amsterdam stock exchanges (LSE: LOG; Euronext: LOG). More information is available from www.logicacmg.com.

About EAN Netherlands

EAN Netherlands plays an active and leading role in the promotion and implementation of the global, open EAN-UCC standards for automatic identification and electronic communication in the Netherlands. EAN Netherlands is a non profit organisation, with 5.800 member companies from 30 industry sectors, and is a member organisation of EAN International www.ean.nl.

About ECR D-A-CH

Efficient Consumer Response (ECR) is a joint initiative by manufacturers, retailers and other partners in the supply chain. ECR aims to improve processes and provide consumers with optimum quality, service and variety of products at the best price www.ecr.de.

http://www.uk-wire.com/cgi-bin/articles/20041122080000ni027.html

LONDON, November 25 /PRNewswire/ -- LogicaCMG will showcase its mobility
telematics services and solutions at
the EU Road User Charging Conference 2004, Tuesday 30 November and Wednesday
1 December 2004 in London.



Anne Tip, principal consultant in mobility telematics at LogicaCMG will
give a presentation entitled `Interoperability and Integration: getting to
the benefits' at 14:40 GMT on 1 December 2004. The presentation will focus on
streamlining back office processes and functions for transparent road
pricing.



LogicaCMG has been involved in road pricing projects since 1990, working
on projects for the National Road Authority of Ireland and the Asfinag, the
Austrian highway concessionaire - among many others. LogicaCMG has
demonstrated its road pricing expertise through its work on the `active road
management assisted by satellite' (ARMAS) project for ESA. Due for launch in
2005, LogicaCMG, together with Skysoft, will demonstrate a road user charging
scheme supported by global navigation satellite systems.



Notes to Editors

About LogicaCMG

LogicaCMG is a major international force in IT services and wireless
telecoms. It provides management and IT consultancy, systems integration and
outsourcing services to clients across diverse markets including public
sector, telecoms, financial services, energy and utilities, industry,
distribution and transport. Formed in December 2002, through the merger of
Logica and CMG, the company employs around 20,000 staff in offices across 34
countries and has nearly 40 years of experience in IT services. Headquartered
in Europe, LogicaCMG is listed on both the London and Amsterdam stock
exchanges (LSE: LOG; Euronext: LOG). More information is available from

www.logicacmg.com

http://www.uk-wire.com/cgi-bin/articles/20041125125800nq568.html

November 25, 2004

UK-based services company LogicaCMG has picked Melbourne for a new systems monitoring facility that will support its outsourcing clients in more than 30 countries.

The mid-tier outsourcer will staff the centre with 20 new positions in a move that Victorian IT Minister Marsha Thomson touted as a "multi-million dollar investment boost" for the state's technology industry.

"The time difference between Victoria and Europe offers unique opportunities - while Europe sleeps we can be working to deliver ICT solutions," Ms Thomson said. "The combination of our European heritage, our location in the Asia Pacific region and our strength in ICT gives Victoria a set of insights ... that is unique in the world."

LogicaCMG has consolidated its global support operations in two countries -- Australia and the the UK -- and will use the Melbourne monitoring centre and its existing helpdesk facility in Hobart to support its operations worldwide.

"In terms of capabilities, efficiency and maturity, Australia measures very well against other Logica locations," a company spokesman said.

The decision to opt for Melbourne comes as LogicaCMG continues to build its links with NSW, picking up its biggest-ever outsourcing contract with utility Integral Energy earlier this month.

The four-year deal will see LogicaCMG take over responsibility for Sydney-based Integral's infrastructure and applications.

LogicaCMG's energy and utilities business recently re-signed existing contracts with NSW's Eraring Energy and Tasmania's Aurora Energy.

Australian IT

http://www.news.com.au/common/story_page/0,4057,11495635%255E15316,00.html

Telefónica Móviles Selects Mobile Communities From LogicaCMG
LONDON, December 1 /PRNewswire/ -- LogicaCMG (LSE: LOG.L - news - msgs) today announced Advertisement

that it has been selected by Telefónica Móviles España (TME), the leading operator in the Spanish market, to provide a Community Solution infrastructure. The solution will support Telefónica Móviles' strategy to provide advanced and value added mobile messaging and community building services to its 18.7 million customers in Spain.

LogicaCMG's solution, including Colibria Communities software, will equip Telefónica Móviles España with a flexible and scalable platform for community services. The platform supports and integrates messaging services and applications in addition to Communities, i.e.: Instant Messaging, Chat and Presence, creating an open platform for the operator's future messaging strategies.

Mobile Communities is a strategic market for operators aiming to provide more innovative and integrated mobile services, which will enable new communication capabilities to friends, families, professionals and people with common interests. Users can create their own mobile communities for other users to participate in, with tools such as diaries, content sharing to groups (like pictures and photos), alerts on SMS and MMS, and search functionality that include both people and other communities. Research by Baskerville[1] estimates that the global Mobile Communities market will be worth US$ 9.2 billion by 2006.

Interconnection with other operators may be achieved by means of industry standards protocols from OMA, GSMA and others. TME, LogicaCMG and Colibria are actively working to enhancing existing protocols to enable new compelling -standards based- services and promoting integration between operators and service providers to make them more successful.

Álvaro Plaza, Managing Director LogicaCMG's telecoms business in Iberia said: "Mobile Communities and Instant Messaging services have enjoyed great success on the desktop for both business and personal use, becoming a core communication tool for many. Making this service mobile opens up a myriad of new revenue-generating opportunities for network operators. Our mobile messaging expertise, combined with Colibria's mobile software solutions, will provide Telefónica Móviles España with a solid platform to capitalise on these opportunities. We view this as an important next step in our relation with Telefónica Móviles with whom we share 10 years of messaging success."

http://uk.biz.yahoo.com/041201/250/f7nq7.html

Looking strong this morning. Should be testing 200 again soon

I think there will be a trading update tomorrow.

Analyst meeting on IFRS tomorrow as well.

LogicaCMG plc: Analyst Briefing

LogicaCMG plc is today holding a briefing session for analysts in London. The
briefing will contain no new trading information. The supporting presentation
will be available on the company's website at

LogicaCMG will issue regular trading updates on
entering close periods. Accordingly, the company will make a close period
statement on Tuesday 18 January 2005 which will be released to the London Stock
Exchange at 0700 hrs (0800 CET for Euronext in Amsterdam). The full results for
the 12 months to 31 December 2004 will be announced on Wednesday 2 March 2005

Friday December 10, 06:45 AM

Phoenix Reports 43% Revenue Growth
ComputerWire Staff

Support services vendor Phoenix IT Group Plc has reported strong growth in revenue for the first half of its financial year.

Announcing the companys first results since its flotation on the London Stock Exchange (LSE: LSE.L - news) last month, the Northampton, UK-based company reported a 10.5% increase in net profit to 4.2m pounds ($8.1m) on sales that rose 43% to 41.5m pounds ($80m) in the six months ending September 30, 2004.

This growth was partly attributable to the acquisition of Trend Network Services in March, which added 19m pounds ($37m) in annual revenue, putting it on course to top the 100m-pound ($193m) mark in the full-year period.

Both Phoenix and Trend make the bulk of their revenue by acting as sub-contractors to larger services providers such as LogicaCMG (LSE: LOG.L - news - msgs) and BT Global Services, which lack large numbers of onsite break/fix engineers and helpdesk support staff, and are less inclined to take on lower-margin work.

Phoenix (Xetra: 603100.DE - news) announced a new contract with LogicaCMG at the end of March to provide desk-side support on the latters 20m pound ($39m) deal with the British Council. This helped to drive organic services revenue growth of 11% to 39.9m pounds ($77m) during the first half. Phoenix said its order book stood at 108.2m pounds ($209m) at the end of September.

Phoenix also secured a large UK-based subcontract with an Indian offshore services company, and said it is also pursuing future deals with business process outsourcing vendors.

The companys small French operation made an operating profit of 56,000 pounds ($108,000) compared to a loss of 22,000 pounds ($42,000) in the year-ago period, on sales that grew 10.3% to 1.3m pounds ($2.5m).

LONDON, January 5 /PRNewswire/ --

LogicaCMG today announced that it has won the contract to set up the
Czech national emissions registry, a mandatory part of Czech compliance with
the EU Emissions Trading Scheme (ETS). Completion of the implementation phase
will be rapid - with a deadline of the 1st March 2005. LogicaCMG has already
set up, and continues to operate, a similar registry in New South Wales,
Australia.



Under a five year deal running until the end of 2009, LogicaCMG, together
with subcontractor Soluziona, will implement and operate the IT for the
national emissions registry from its data centre in Prague. The emissions
market will be supervised by Czech environmental ministry, which has made the
Czech electricity market operator (OTE) responsible for the infrastructure of
this market. LogicaCMG is a long term technology partner of OTE.



Market participants will access the LogicaCMG implemented solution
through the Internet. This solution will cover all necessary functions,
including allowance registration, transactions registration and settlement
and approval workflow, as well as communication with other European systems.



All of the other EU member states will require similar solutions to set
up and operate their national registries. Additional registries will be
needed outside the EU, given that the Kyoto Protocol is due to come into
force in February 2005. LogicaCMG also helps individual companies to
cost-effectively comply with the EU ETS through its EMISSIONS logic software,
developed with environmental specialist CarbonSim.



Miroslav Marvan, general manager, Operor trhu s elektrinou, a.s. said:
"We selected LogicaCMG because of their excellent track record in delivering
mission critical projects within demanding timescales. This ability was also
confirmed by our experience from launching the electricity market. I am
convinced we will benefit from their knowledge of emissions trading processes
and solutions as well."



Jim Tapper, managing director, energy and utilities international line of
business, LogicaCMG commented: "We are delighted to have been selected to
implement a national registry solution for the Czech Republic. We are
committed to helping our clients - be they registry operators or individual
companies - to cost-effectively manage compliance with the EU Emissions
Trading Scheme."



Petr Hl, managing director, industry and utilities at LogicaCMG in the
Czech Republic added: "I am fully convinced that this project will be as
successful as the implementation of the core electricity market system which
LogicaCMG built for OTE. Czech companies now have a unique chance to benefit
from the ETS by selling some of their allowances. However, to do this, they
need to implement new processes, organisational changes and IT solutions. We
are ready to help them through both our consulting capacity as well as our IT
skills."

http://www.ukwire.com/cgi-bin/articles/20050105080000N9006.html

tradings statement due on the 18th. any views?

7 January 2005

LogicaCMG Finalises Acquisition of Controlling Interest in Edinfor in Portugal

- Acquisition of controlling stake in leading Portuguese IT services provider

- Outsourcing contract with Energias de Portugal worth Euros 510 million over
10 years

- Strengthens global energy and utilities business

LogicaCMG announced today that it has concluded an agreement to acquire a 60%
controlling interest in Edinfor SA, the IT business of Energias de Portugal
(EDP), with arrangements that purchase the remaining shares. Based on an
Enterprise Value of Euros 135 million, LogicaCMG will pay Euros 81 million (GBP
57 million) in cash on completion, expected to be in early 2005 following
clearance from the competition authorities. LogicaCMG expects the addition of
Edinfor to be modestly earnings accretive in its 2005 financial year.

As part of the transaction, LogicaCMG has signed a contract with EDP worth
Euros 510 million (GBP 359 million) to provide IT outsourcing services for ten
years. Additional IT resources will be provided to EDP on an ongoing basis
under a preferred supplier framework agreement.

The minority interest is the subject of a put/call option, exercisable by EDP
after two years and by LogicaCMG after four years. The ultimate consideration
is dependent on the performance of the business and is subject to a floor and a
cap.

Edinfor is one of the largest IT services providers in Portugal and has
operations in Spain and Brazil. It employs some 1,300 people who deliver
solutions across a wide range of industries, in addition to energy. Edinfor
will benefit from LogicaCMG's international profile and proven methodologies
and will become part of LogicaCMG's global delivery organisation.

The total adjusted net assets acquired are expected to be approximately Euros
80 million (GBP 56 million). Earnings before interest, tax, depreciation and
goodwill amortisation (EBITDA) for the year ended 31 December 2003 was Euros
34.1 million (GBP 24 million), giving an operating margin of 5%. Revenue for
2004 is expected to be around Euros 175 million (GBP 123 million).

The partnership with EDP provides a platform for growth:

- One of the largest outsourcing contracts awarded over the last year in
mainland Europe and a powerful reference point for winning new contracts

- Strengthens LogicaCMG's position in energy and utilities, one of its key
market sectors

- Edinfor is a leading Portuguese IT company with scope for expansion in Spain
and in South America from its significant operation in Brazil

- Edinfor is an additional nearshore resource for the LogicaCMG Group, with a
major data centre and skills including SAP consultants, which can be deployed
on cross-border projects.

The current structure of the Edinfor business - including an up to date
technical, commercial and support infrastructure - will be largely retained.
Jim Yeats from LogicaCMG will become chief executive, reporting to Jim McKenna
on the LogicaCMG Group board. Jim Yeats was most recently managing director of
LogicaCMG UK's energy and utilities division.

Commenting on the transaction, Dr Martin Read, LogicaCMG's Chief Executive,
said:

'We look forward to working with EDP to deliver excellent services that enhance
both their business and that of Edinfor. The deal reflects LogicaCMG's
strengths in energy and utilities and in outsourcing, significantly broadening
the propositions we can take to our customers across the group.'

LogicaCMG signs 510 mln eur outsourcing contract with Portugal's EdP
AFX


LONDON (AFX) - LogicaCMG PLC said it has signed a 510 mln eur outsourcing contract over 10 years with Energias de Portugal as part of a deal which also sees Logica acquire a controlling stake in Edinfor from EdP.

Logica said last October that it was buying 60 pct in Edinfor, an IT servcies provider, from EdP. It said today it will pay 81 mln eur for the stake.

bam

http://www.uk-wire.com/cgi-bin/articles/20050111090000NI137.html

http://www.uk-wire.com/cgi-bin/articles/20050111090800NI616.html

LONDON, January 12

Comptel Corporation, leading convergent
mediation and provisioning
software vendor and LogicaCMG, have delivered Comptel EventLink(TM)
convergent mediation solution to T-Mobile subsidiary T-Hrvatski Telecom
(T-HT) in Croatia.



Comptel EventLink(TM) will ensure reliable, flexible and centralised
collection of subscriber usage data from the entire operator's network, and
will transmit the processed data further to operators' business support
systems such as interconnect billing.



"The delivery to T-Hrvatski Telecom continues our close co-operation with
the T-Mobile Group. With a robust mediation solution the operator is better
prepared also to welcome the new business models with emerging non-voice
services," said Markku Penttinen, Executive Vice President, Account
Management, Comptel Corporation.



"This project for T-HT is another demonstration of the benefits of our
long term relationship with our clients. Both companies have strengthend
their positions in the telecoms markets in Central and Eastern Europe.
LogicaCMG as the leading systems integrator and Comptel as a leading software
vendor," stated Rert Sdor, managing director for Slovakia, Hungary and
the Balkans at LogicaCMG.

http://www.uk-wire.com/cgi-bin/articles/20050112070000ng715.html

LONDON, January 14

LogicaCMG celebrates critical role pushing IT to the limit in
successful Cassini-Huygens mission to Saturn

LogicaCMG today received confirmation that the European Space Agency
(ESA) Huygens space mission to Titan (one of Saturn's moons), has been a
success, breaking new boundaries in IT endurance and demanding total
reliability in a hazardous environment.

The aim of the mission was for the Huygens probe to conduct scientific
experiments on the atmosphere of Titan, which is thought to be similar to
that of Earth several billion years ago, and thus give new insights into
theories on the formation of the Earth and how life there may have developed.
LogicaCMG's software has been supporting the Huygens probe throughout its
journey, controlling both the flight software and the communications back to
Cassini. As scientific data and images are captured, the link can then relay
information back to Earth. The most critical part of the mission was during
the descent when the heat shields needed to be removed and the parachutes
opened. The software executed a number of algorithms to measure the
atmospheric deceleration and calculate when to release the parachutes and
other equipment to high precision - less than a second for the main
parachute.

Thorough and regular testing of the software was crucial to the success
of the mission, both before and during its seven year flight to Saturn.
Rigorous trials were carried out on the software, with the ultimate checks of
the Huygens probe software being completed successfully over a 3 hour period
on 23rd December 2004.

Jim McKenna, chief operating officer at LogicaCMG said: "This has set new
standards not only in space science and international collaboration, but also
in developing IT that is robust enough to withstand such challenging
environments. The ground breaking mission has taken information technology to
a new frontier and is further proof of LogicaCMG's technical excellence in
the space industry. There is no better way to demonstrate mission-critical,
industrial strength IT solutions. We look forward to continuing our
successful long-term relationship with ESA on other programmes which need
such high reliability IT solutions, such as Galileo."

http://www.uk-wire.com/cgi-bin/articles/20050114201800NU867.html

Logica trading in-line
MoneyAM
Software and IT services group, LogicaCMG, said trading in the second half of last year was in line with expectations.

Results for 2004 would come within the range of current market forecasts, Logica said.

The current consensus forecast is for full-year sales of 1.65bn and earnings before interest taxation and amortisation of 112.6m.

In a pre-close trading update, LogicaCMG said turnover at its IT services division rose in the second half of 2004, bolstered by good performances from its UK and Benelux units.

At its Wireless Networks division, which develops software for the mobile phone industry, December sales were, as usual, strong. This seasonal uplift, coupled with a 'successful' cost reduction programme, meant the Wireless Networks unit would deliver a full-year operating result 'a little ahead of breakeven', said LogicaCMG.

Profits margins had remained strong in the UK IT services business, although margins in the Benelux regions slipped 'slightly' due to rising costs associated with bidding for new contracts.

Turning to its underperforming German IT services business, LogicaCMG said turnover had been 'stable' in the second half as it implemented a cost-cutting plan.

But it warned that second-half trading at its French unit, another area of concern for investors ahead of this morning's trading update, was 'disappointing' as LogicaCMG continued to restructure the business.

Looking ahead, LogicaCMG said a recently signed IT services contract with Energias de Portugal, in addition to good order intake in the second half of 2004, had given it a 'good platform' to build on in 2005.

LogicaCMG solid but dull
Published: 14:08 Tuesday 18 January 2005

LogicaCMG has fared slightly better than expected for the year to December but a lack-lustre trading update left the shares in negative territory.

The 1.4 billion IT services company said trading in the second half developed in line with its expectations and it should be within market estimates for the full year. Analysts are looking for around 1.6 billion of sales and 99 million profit.

Shares (LOG) fell 7p to 186p.

George OConnor, an IT analyst at Shore Capital said: The key messages from LogicaCMG's pre-closed statement are better than expected with H2 trading in line with expectations and the full year will be within market estimates. He has a hold recommendation on the stock.

The UK business performed well and maintained its strong first half margins. This is in line with what finance director Seamus Keating told Citywire back in June, namely that there was 'more happening' than there had been for the past three or four years, and that more projects were being considered
In Germany, the company said it had successfully implemented its planned cost reduction plan and second half revenues had been held stable. Again, Keating said in June that it would be perfectly possible to run a slimmed down operation in Germany.

France was a disappointment however, particularly in the second half, with markets remaining difficult. One problem for LogicaCMG is that in the UK, outsourcing is a big driver for growth, whereas France and Germany are not really ready to adopt the outsourcing model on any major scale.

Wireless networks, which is the part of LogicCMG that gets most of the media attention these days, saw a normal seasonal uplift in the second half and achieved good licence sales in December ahead of the Christmas/New Year peak demand. After continued cost cutting, the wireless business came in a little better than breakeven.

As Keating said last year, this business has a major affect on sentiment, while in reality accounting for only some 15% of total revenues.

Chief executive Martin Read said there was good order intake last year that carried over into the second half. The company signed a contract with Energias de Portugal earlier this month, and Read said: We start 2005 with a good platform from which to take our business forward.

It is always disappointing when the company is not available to talk directly about its trading update, but a LogicaCMG spokesman told Citywire that the company had nothing to add. It will announce the results on 2 March.

There would appear to be little to hide but little to shout about in todays update, hence the shares coming off a bit.

We said in June at 177p that LogicaCMG looked a pretty solid business with a dividend yield of around 3.3% and with steady but not wildly exciting growth prospects. We said it was therefore worth a hold, and that the wireless potential added spice, if greater volatility with it. The same still applies.

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