Sopra Steria Group Upgrades Revenue Growth Forecast

by webmaster

Shares in Sopra Steria Group experienced a significant jump on Thursday after the company raised its full-year revenue growth forecast, driven by higher first-half revenue and profit.

At 0816 GMT, Sopra Steria’s shares surged by 8.7% to reach EUR201.20.

The French information-technology consultant now anticipates organic revenue to grow by a minimum of 6%, surpassing its previous estimate of 3% to 5%. The company maintains its operating margin projection above 9% and its mid-term targets, which include annual organic revenue growth between 4% and 6% and an operating margin of around 10% by 2024.

During the first half of the year, Sopra Steria reported a net profit of 112.5 million euros ($124.7 million), slightly higher than the EUR112.3 million recorded in the same period last year. Moreover, operating profit saw an increase from EUR162.1 million to EUR177.1 million.

Second-quarter revenue also demonstrated growth, rising to EUR1.44 billion from EUR1.35 billion.

“The group’s exceptional performance in the first half of the year and our positive outlook for the second half have paved the way for an upward revision of our full-year revenue guidance for 2023,” stated CEO Cyril Malarge.

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