Logica warns of decline in text messaging

Shares in Logica fell 17% on the London stock market on Wednesday following a cut by the company in its growth forecast for its messaging unit.

The company said that it expected little growth in the unit and it anticipated an actual revenue decline in Japan.

Logica is a major provider of text messaging software and this division of the company provides it with over a third of its overall revenue.

There are fears that Logica may be losing market share, particularly in the area of next generation multi-media text messaging systems.