CGI wins 2billion IT contract extension from BCE

MONTREAL — CGI Group says it has been awarded a $2 billion information technology contract extension from Bell Canada parent company BCE.The contract which runs through to December 2026 extends the more than 15-year relationship between the two Montreal-based companies.CGI operates Bell’s IT network by supporting hundreds of applications.The IT company will announce its fourth-quarter results on Thursday.CGI Group has an enviable cash problemMagna, CGI top manager’s picksIts net profit is expected to surge to $222 million from $141 million a year earlier on $2.57 billion of revenues, according to analysts polled by Thomson Reuters.Excluding one-time items, the adjusted profit is forecast to increase nine per cent to $233 million or 73 cents per share. read more

UK engine production declines 70 in February

UK engine manufacturing down -7.0% in February, with 235,595 units built.Double-digit drop in domestic output as manufacturers respond to market demand.Proportion of engines built for export grows, highlighting the importance of frictionless trade. Mike Hawes, SMMT Chief Executive, said, “February’s figures reflect the uncertainty in the industry among buyers and manufacturers alike. Progress needs to be made in securing a relationship with the EU that safeguards international trade and frictionless access to overseas markets. It is shocking that manufacturers are still in the dark over what their international trading situation is going to be in just a matter of weeks.”Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more