LONDON-Messaging company Logica plc reported a 25 percent drop in profits, about $181 million, for the current fiscal year compared with the previous year, and it said the outlook is bad for its mobile networks division.
“The first quarter is generally slow due to the holiday season and the cost reductions will not have full impact until the second quarter,” the company said in a statement about its wireless messaging business. “We will continue to align the cost base against an evolving and volatile market place.”
