French systems integrator Unilog SA reported 1995 profits up 24%, to $7.5m, on revenues that grew only 4%, to $145.6m. After reorganizing its activities in early January, Unilog expects to proceed with a legal restructuring, reducing its subsidiaries from to six from eight before embarking on a series of acquisitions. The acquisition targets, chief executive Gerard Philippot told Les Echos, would be French companies that are profitable, with revenues of between $14m to $20m. Unilog also wants to expand its presence in Europe, despite inconclusive previous partnerships with Plnzke AG in Germany and Data Sciences Plc in the UK, after those companies were purchased by Computer Sciences Corp and IBM Corp respectively. For a long time undervalued on France’s Deuxieme Marche, Unilog has seen its share price take off since the first of the year, going to 490FF at the end of March from 310FF on December 31. Les Echos cites an unidentified financial analyst saying that Fidelity Investments Ltd recently purchased shares of Unilog and also of Axime SA, fellow French systems integrator.
