Logica has announced a 22% reduction in operating profit for 2008. Despite a 17% increase in overall revenue it appears that the IT service provider has still felt the effects of the downturn.

However Andy Green, CEO of Logica, remains optimistic, “Our spread of customers and geographies, high penetration of more defensive sectors and strong financial discipline position us well to weather the economic downturn.”

Full details of the report can be found here: Report