Tag Archives: UK

Digital Demand Drives Growth for TCS in Q2FY2019

  • Digital revenue at 28%, up 60% YoY (CC)
  • $ Revenue grows +10% YoY; Constant Currency: +11.5% YoY
  • Operating Margin at 26.5%; +144 bps expansion YoY
  • Net Profit up 11.9% YoY

Mumbai, October 11, 2018: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to Ind AS and IFRS for the period ending September 30, 2018.

Financial Highlights for Quarter Ended September 30, 2018

  • Revenue at $5.215 Bn, +10 % YoY
  • Net Income at $1.119 Bn, +11.9% YoY
  • Operating Margin at 26.5%, an expansion of 1.4% YoY
  • Earnings Per Share at $0.29, +11.9% YoY
  • Net Cash from Operations at $1.042 Bn i.e. 93.2% of Net Income
  • Dividend per share of Rs. 4.00
    Record date 24/10/18; Payment date 30/10/18

Business Highlights for Quarter Ended September 30, 2018

  • BFSI, Retail verticals continue to accelerate: +6.1% and +15.6% YoY respectively
  • UK and Europe lead growth: +22.8% YoY and +17.4% YoY respectively
  • Superior client additions across bands: 4 new clients in the $100M+ band, 7 in the $20M+ band, 10 in the $10M+ band, 11 in the $1M+ band
  • World’s largest Agile-ready workforce: 279,000+ employees Agile trained
  • Net addition of 10,227 in Q2: highest in 12 quarters
  • Best-in-class retention: IT Services attrition rate steady at 10.9% LTM

Commenting on the Q2 performance, Rajesh Gopinathan, CEO and MD, said, “We are very pleased with our all-round strong performance in Q2. Revenue growth was driven by expanding demand for digital transformation across verticals, and continued acceleration in BFSI and Retail. Our industry-leading digital growth, and best-in-class client metrics bear testimony to our standing as the preferred partner in our customers’ growth and transformation initiatives.

He added: Our Business 4.0 thought leadership framework, contextual knowledge, and full stakeholder capabilities differentiate us, and drive demand for our solutions and services. Our Machine First Delivery Model (MFDM™) and Location-independent Agile methods are helping customers integrate automation deep within their enterprise, and orchestrate a more effective human-machine interplay to deliver superior customer experience at scale.

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said, “This has been a very good quarter, with strong demand in areas like analytics, cloud and automation. Our Quartz Blockchain Solution is gaining traction, and we are seeing the creation of nascent ecosystems which could transform markets. Our Enterprise Agile 2020 vision is shaping open, collaborative workplaces and Agile ways of working. This, along with MFDM, is driving intelligent automation and the discovery of a new meaning to work i.e. training the machines with the contextual knowledge, scaling businesses and creating ecosystems. This people-first approach to the machine-first world is seen as a key differentiator by our clients in driving growth, competitive edge and innovation in their businesses”

V Ramakrishnan, Chief Financial Officer, said, “It is encouraging to be back in our preferred range of profitability at the operating level. Even as we expand our investments to build on our lead in the Digital space, our disciplined operations, the improving growth trajectory and a supportive currency make our margins resilient.” Continue reading

Jobs: Digital Marketing Manager, Southampton UK

Job Description: The Client company is currently seeking a Digital Acquisition Marketing Manager who will be responsible for managing all digital customer lead generation and acquisition activity, ensuring that it is fullyintegrated and optimised across the entire customer journey. You will be responsible for planning and managing media and affiliated activity, at both strategic campaign and tactical commercial levels.
Start date: ASAP Continue reading

UK Study: Graduates Boost Economic Growth

New NIESR research published today by the Department for Business Innovation and Skills highlights the importance of graduate skills to the UK economy.  Looking across developed economies, we found that – as both economic theory and common sense would predict – countries which increased their share of graduates in the workforce saw labour productivity grow faster.  For the UK, we estimate that roughly one-third of the increase in labour productivity between 1994 and 2005 can be attributed to the accumulation of graduate skills in the labour force.   In other words, a substantial share of the UK’s economic growth over this period was driven by the expansion of higher education and the resulting increase in the proportion of workers who have a graduate-level qualification.  Read full post by David Wilkinson here:
http://niesr.ac.uk/blog/graduates-boost-productivity

Youth Unemployment in London, UK

Youth unemployment in London, UK is at a very high level, not seen in last 25 years. Here are some stats: 1 in 4 youth (25 percent) aged between 16 to 24 is unemployed (total 120,000 people), nearly triple the average London unemployment rate of 8.9 per cent. Together with Yorkshire, London at 25 per cent, has the worst youth unemployment rate in the UK, according to figures released by the Office for National Statistics. There is no doubt that these youth are bearing the brunt of the economic crisis unleashed by massive de-leveraging in the financial world since year 2008. It has been 5 years of reducing economic activity, and the signs of economic growth are not yet visible. The unemployment in London is highest among London’s black and Asian youth, and problem is worst in the Olympic boroughs of Tower Hamlets and Newham, which have among the highest number of young people claiming Jobseeker’s Allowance in London. Continue reading

BP to raise $1.1bn from North Sea field sale

London, Dec 6, 2012: BP sells its stakes in its North Sea oil and gas fields for $1.06bn (£663m) to an Abu Dhabi’s energy group. Prime Minister David Cameron said agreement positioned the North Sea as a global energy hub and the takings from the deal will help cover huge amounts from the 2010 Gulf of Mexico oil spill.

Abu Dhabi National Energy (Taqa) will get hold of stakes in the BP-operated Harding, Maclure and Devenick fields. He said that the deal would show that changes to the North Sea tax regime are will help to generate jobs in Scotland and UK, making sure we do well in the global race. Chief executive of Taqa, Carl Sheldon, said the deal would add 21,000 barrels of oil equivalent a day to its output. Peter Hutton, energy analyst at RBC Capital Markets says the disposed assets produce 40,000 barrels of oil equivalent a day. Continue reading