Logica profits slump by 25%

Mobile applications company, Logica has warned of tough times ahead, following a 25% slump in its annual profits.

Pre-tax profits for the year ended June 30 dropped from £155.6m (€245.2m) last year to £116m (€182.8m). The company made revenues of £1.1bn (€1.73bn) for the year, a three percent drop year/year.