April 29, 2008 / 11:47 AM / in 10 years

CGI Group profit jumps

TORONTO (Reuters) - Outsourcing and information technology firm CGI Group Inc (GIBa.TO) reported a 9.7-percent jump in second-quarter profit on Tuesday, as some $1.1 billion in new contracts helped results.

CGI, Canada’s biggest computer consulting company, earned $68.8 million, or 21 cents per share, in the three months ended March 31. That’s up from a profit of $62.7 million, or 19 cents per share, in the same period a year earlier.

Revenue slipped to $949.1 million, from $951.3 million a year earlier and the company said foreign exchange fluctuations crimped revenue by $52.5 million.

Adjusted to take account of these fluctuations, revenue rose 5.3 percent, it said.

Analysts had expected CGI to earn 21 cents a share before one-time items on revenue of $961.9 million, according to Reuters Estimates.

Reporting by Jonathan Spicer; editing by Janet Guttsman

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