EDS profits up 75 per cent to £108m

EDS profits up 75 per cent to £108m

The next phase of the UK Defence Information Infrastructure deal helped boost revenue to £2.7bn

Earnings for EDS jumped 75 per cent to $225 million (£108m) during the third quarter of 2007.

The outsourcing giant also reported sales of $5.6bn (£2.7bn), up 6 per cent from last year.

Large deals signed during the period included a $630 (£302m) agreement with US travel company Sabre Holdings, and a $489m (£235m) amendment to the Defence Information Infrastructure contract with the Ministry of Defence.

“While we have made significant progress, work remains for EDS to reach its long-term goals, and we will not settle for the status quo,” said Ron Rittenmeyer.

“Moving forward, our focus will be on improving our mix of higher-margin work, driving productivity and improving our working capital management.”