In their presentation to analysts on 20th February 2002, Logica explained how they had a reduction of cash resources in H2 from 400m to 100m, (after including proceeds of disposals which actualy were not much). This does disclose a serious cash burn rate and the key revenue spinner of messaging has only seen a tightening of the market, getting contracts in Trinidad (small pop, low GDP) doesn't compare with for example Japan, where timeframes are being pushed out and out.It's one to watch out for, at the next quarter earning announcement!
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