Crisis? What crisis?

(By Anthony Miller). Quite a surprising release from Capgemini today, advising “no change in the pace" of revenues or bookings during September and reaffirming its 2008, 4-5% growth guidance. This is certainly not the message we’ve been getting from almost every other player we have been speaking to of late, and obviously not from SAP (see Not a good day to bury bad news). Cap management expects the IT services market will continue to grow in 2009, though at a slower pace. Now, Cap is one of the few European IT services players that has really taken the offshore story to heart (more on this soon). But we really must wonder if Nelson has the telescope on the wrong eye.