Consulting firms appear to have gone into premature hibernation in anticipation of this wintry three day weekend. News is reasonably sparse but, as ever, you can count on Consult THIS to throw caution to the wind and jump headfirst into a gigantic pool of frigid consulting news.
First up is Capgemini, which published its fourth quarter and full fiscal year 2010 results today. Overall results were highly encouraging for CEO Serge Kampf and Co.—compared to the year prior, Capgemini enjoyed revenue growth of 3.9 percent (to €8.7 billion) despite a sluggish start to the year. Consistent growth and increased momentum towards the end of FY 2010 ultimately resulted in a profit of €280 million, a remarkable 57 percent increase from last year's sum. By region, France continued to be the firm's dominant market, while other European operations faltered and North American business enjoyed solid growth. Despite the all-around optimism at the Capgemini camp, the firm's Consulting Services unit posted a 7.5 percent revenue drop from 2009. That weakness didn't stop Capgemini from hiring aggressively, though; a 20 percent headcount increase (nearly 20,000 new hires) brought the firm's total well over the 100,000 mark. Recruiting in India was robust; Capgemini now has roughly 31,000 employees on the subcontinent. Finally, the firm was bullish about prospects for 2011, predicting 9-10 percent revenue growth alongside continued hiring and geographic expansion.
Next up is this week's penultimate run-in, promoted due to lack of first-rate consulting news. Wipro made headlines today in Canada when it announced that it would open an office in Mississauga, Ontario as part of an effort to break into the Canadian market. The new office in Mississauga, near Toronto, will serve as the Indian consulting giant's headquarters in the country. A Wipro representative said that the move "strongly reflects the strategic importance of the Canadian market in Wipro’s growth strategy." From here on out, it's all teddy bears: Build-A-Bear Workshop, the brilliant minds behind the customizable stuffed bear construction craze, posted some disheartening results today and announced that they had enlisted the help of an unnamed consulting firm in the turnaround effort. Bloomberg reports that the firm was hired "to look at its supply chain, logistics and other expense areas." There's a decent chance that that consultancy is Deloitte, which also graced headlines today when it announced the hiring of ex- Detica and Capgemini cybersecurity mastermind Graeme Matthews. I bet you're all thrilled.
For more information:
Capgemini: 2010 Full Year Results
Wipro Technologies Expands Canadian Operations
Bloomberg: Build-A-Bear falls as revenue metric disappoints
Deloitte strengthens its cybersecurity team with strategic appointment
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