Q3 numbers were in line with expectations and management has maintained both its FY16 and long-term guidance. The backdrop remains broadly unchanged, with demand for IT projects (predominantly digitisation) in the European commercial banking sector outweighing weakness in the Anglo Saxon investment banking markets. A recovery in the latter is largely dependent on improvements in the financial performance of investment banks. However, we note the investment banking sector needs to invest in IT
15 Nov 2016
Q3 organic growth remains robust at 12%
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Q3 organic growth remains robust at 12%
Q3 numbers were in line with expectations and management has maintained both its FY16 and long-term guidance. The backdrop remains broadly unchanged, with demand for IT projects (predominantly digitisation) in the European commercial banking sector outweighing weakness in the Anglo Saxon investment banking markets. A recovery in the latter is largely dependent on improvements in the financial performance of investment banks. However, we note the investment banking sector needs to invest in IT