November 10, 2011 / 11:55 AM / 7 years ago

UPDATE 1-CGI Group Q4 profit falls on restructuring charge

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Nov 10 (Reuters) - CGI Group , Canada’s largest technology outsourcing and consulting company, posted a 13 percent fall in fourth-quarter profit, hurt by a restructuring charge.

The net profit was C$73.1 million, or 27 Canadian cents a share, compared with C$84.1 million, or 30 Canadian cents a share, last year.

The company took a charge of C$45.4 million related to the advancement of real estate consolidation plans, workforce adjustments and a non-cash impairment charge.

Excluding items, the company posted a net profit of C$104.8 million, a 4 percent rise from last year.

Revenue rose 2 percent to C$1.03 billion. (Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel)

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