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France's Capgemini raises 2021 targets

French consulting and IT services provider Capgemini on Wednesday raised its 2021 guidance, as it benefits from a global surge in demand for tech and cloud-based solutions that picked up speed during the pandemic.

France's Capgemini raises 2021 targets

The logo of Cap Gemini is seen at the entrance of the company headquarters in Paris, France, February 18, 2016. REUTERS/Charles Platiau/File Photo

REUTERS: French consulting and IT services provider Capgemini on Wednesday raised its 2021 guidance, as it benefits from a global surge in demand for tech and cloud-based solutions that picked up speed during the pandemic.

The company, which offers consulting, digital and engineering services, now expects 2021 revenues up between 12per cent and 13per cent, an operating margin of 12.5per cent to 12.7per cent and an organic free cash flow above 1.5 billion euros (US$1.77 billion).

It had previously guided for 2021 revenue growth of 7per cent-9per cent target range, operating margin of 12.2per cent to 12.4per cent, and an organic free cash flow above 1.3 billion euros.

(US$1 = 0.8460 euros)

(Reporting by Kate Entringer and Sarah Morland in Gdansk; Editing by Jacqueline Wong)

Source: Reuters

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