Friday, 19 December 2008

Best-of-Breed Bellwether #2 - Accenture

If Oracle is a ‘Best-of-Breed’ Bellwether in Software, then many would regard Accenture as a ‘Best-of-Breed’, in Consultancy/IT Services/Outsourcing. On that basis, things look quite solid and the outlook is encouraging. Accenture’s revenues grew by an impressive 6% (9% in local currency) to top $6b in the quarter to 30th Nov 08.

Outsourcing (surprise, surprise) was the best performer (up 7% or 9% in local currency)) and Financial Services was the only sector to record a decline (also, surprise, surprise). Interestingly, it was Europe which was weakest – where Accenture’s revenues declined slightly in $ terms but grew by 4% in local currency; compared to an 11% rise in the US>

Although Accenture has lowered its 2009 forecasts, it is still forecasting revenue growth of 9-12%.

Accenture’s continued forecast growth for 2009 is in line with some of the other Best-of-Breed players we have spoken to recently. In particular, Outsourcing really is the place to be in a downturn – helping your customers to save money. Accenture is well placed to benefit from that.

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