For the three months to September 30, WM-data reported net profit of SEK 102m ($14.1m), compared to a loss of SEK 14m ($1.9m) in the same period of the previous year, on revenue that grew 4.5% to SEK 2.3bn ($319m).
In the first nine months of 2006, WM-data increased sales by 17.2% to SEK 7.7bn ($1.1bn). However, the company said it had only grown by approximately 3% on an organic basis, with the remaining expansion largely driven by the acquisition of Atos Origin’s Nordic operations in May 2005.
WM-data’s organic growth rate is better than that of its closest Nordic rival TietoEnator (2% in the third quarter) but is low enough for many analysts to have questioned the wisdom of LogicaCMG’s $1.7bn purchase.
LogicaCMG recently announced that it owned approximately 95.4% of the shares in WM-data. The Swedish vendor has submitted a request to delist its shares from the Stockholm exchange, with its last day of trading scheduled to be November 24.
