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