Devoteam : Disappointment on H1, but the soft patch seems to be behind us
>Q2 organic growth a shade lower than our forecasts - Devoteam yesterday evening after trading reported Q2 revenue of € 185m, reflecting total growth of 20.9%, a shade below our forecasts (ODDO BHF: € 188.1m est., 22.9%). Organic growth was 9.6%, below our forecast (11.7% est.) and reflected a slowdown vs Q1 2019 (11.7%). Restated for an unfavourable calendar effect of around 0.8 points, economic growth stood at 10.4%. France slowed to +10.8% organic (vs +13.9% in Q1)...Devoteam is an Information and Communication Technologies (ICT) consulting group. Co. specializes in technologies of IT infrastructures, middleware and telecommunication networks. Co. covers the technical, organizational and financial aspects of its clients' projects. It is subdivided into two business line segments. The Technology Consulting segment handles the design and implementation of solutions. This segment operates in three areas: expertise, systems integration and outsourcing under the DVO and DVS brands. The Business Consulting segment can be defined as the provision of skills to companies and organizations, under the Devoteam Consulting brand.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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