French outsourcing specialist Capgemini Group saw its revenues for the first quarter of 2008 remain flat year on year, posting €2.19bn (£1.7bn) compared with €2.21bn in the first quarter of 2007.
The company said that sales growth was distorted by the steep depreciation of the US dollar and the UK pound against the euro, with those two countries accounting for more than 41 per cent of the company’s entire revenues.
Revenues from the UK fell 4.5 per cent linked to the curtailment of Capgemini’s contract with HMRC, while the US saw sales grow six per cent, it said.
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