Mid year results seem to be showing positive results despite on-going price pressures. During the first half of the year, Steria revenue increased by 1.4% on a like-for-like basis in the first half 2010. During the second quarter 2010, activity was stable, with consolidated revenue amounting to €417.5m (-0.1% like-for-like versus the second quarter 2009).

Indeed, Steria’s figures have been positive across most European geographies – Spain was perhaps the exception with results being ‘close to flat’ but given the difficulties the Spanish economies has faced in recent months, this is still good news.

In the United Kingdom, excluding currency, the trend in second quarter revenue exceeded initial expectations at -3.9% versus the second quarter 2009. The quarter was notably characterised by the signature, in June 2010 with the Cleveland Police Authority, of one of the largest contracts ever won by the Group for an inital amount of €211m over 10 years.

While some may be quick to point out that the optimism may be misplaced –it does take 18-24 months from the initial tender to the awarding and signing of the contract – Steria also recorded a 17.6% rise in new orders during the second quarter 2010, leading to a total increase of 3.2% in the first half 2010 versus the first half 2009.

Similarly, H1 has proven a good one for the Indian ITO sector, holding out the promise of higher perks for the millions of IT professionals. Results for HCL, showed a positive trend. While Patni showed a 10.7% year-on-year results despite a 2.8% drop in revenue quarter on quarter. The company’s revenues stood at $167.6m, down from $172.3m in Q1. The company attributed the revenue drop due to project delays by some of its BPO clients.

Wipro also beat estimates in the June quarter, though a softening in Europe's revenue contribution raised concerns about profits ahead. The software services exporter's Europe revenue share fell mainly due to currency volatility, but it continued to see a strong business pipeline from the region. Indeed, the company posted a 31% jump in profit and beat analysts’ estimates as demand for computer services rose.

Wipro’s results add to those of industry leader Tata Consultancy Services.