Source: Global News.
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  • CGI Inc. (GIB.A) has shared its results from a strong third fiscal quarter with steady year-over-year growth
  • It is one of the largest independent IT and business consulting services firms worldwide and has roughly 88,500 consultants and professionals as of this year
  • Revenue was up 7.90 per cent and adjusted EBIT up 9.00 per cent year over year
  • Net earnings grew similarly up by 7.60 per cent bringing diluted earnings per share up 11 per cent
  • Return on capital investment was 15.80 per cent but net debt was up to $3.07 billion
  • CGI Inc. (GIB.A) is up 1.05 per cent trading at $108.11 per share as of 1:19 p.m. ET

CGI (GIB.A) has shared its strong third fiscal quarter results with steady year-over-year growth.

CGI is one of the largest independent IT and business consulting services firms worldwide and has roughly 88,500 consultants and professionals as of this year.

The company reported revenue of $3.26 billion, which is 7.90 per cent more than last year’s results. Also, its adjusted EBIT was said to be up 9.00 per cent year-over-year to $519.9 million.

Continuing the trend of growth, net earnings were $364.3 million which is allegedly up 7.60 per cent compared with the same period last year. As a result, diluted earnings per share were up 11 per cent to $1.51 compared to $1.36 last year.

CGI stated its cash provided by operating activities was $419.2 million, which is consistent with its report from last year.

The company also shared it invested $113.6 million under its current normal course issuer bid to purchase 1.12 million of its class A shares for cancellation and $414.4 million for the recent acquisitions of Umanis SA and Harwell Management. Return on invested capital for the company’s quarter was 15.80 per cent.

It also recorded its net debt was $3.07 billion, up from $2.96 billion at the same time last year. The net debt-to-capitalization ratio stood at 30.60 per cent.

According to CGI, it has $2.3 billion in readily available liquidity to pursue its build and buy profitable growth strategy as of the end of the quarter.

CGI Inc. (GIB.A) is up 1.05 per cent trading at $108.11 per share as of 1:19 p.m. ET.


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