The Montreal group CGI continues to post solid financial results with an increase in its profit and revenues for the third quarter of 2022.
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The IT support giant recorded a net profit of $364.3 million, up 7.6% compared to the same period of 2021, for a margin of 11.2%.
Earnings per diluted share were $1.51 versus $1.36 a year earlier, representing an increase of 11%.
CGI’s revenues for the quarter ended June 30 increased by 7.9% to reach $3.26 billion compared to the corresponding quarter of the previous fiscal year.
The Montreal firm’s operating activities generated stable cash flow of $419.2 million, which represents 12.9% of revenues.
New business reached 3.41 billion, representing a new business-to-billing ratio of 104.7% year-over-year.
“We continued to execute our strategy of profitable organic and acquisition growth and posted double-digit year-over-year increases in both revenue and earnings per share,” George D. Schindler, chairman, said Wednesday. and CEO.
“We are well positioned with our portfolio of services and our strong balance sheet to help our customers navigate the current economic environment, while continuing to drive our business growth and profitability,” he added.
