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Infosys boosts hopes of a revival in sales for outsourcing industry
INDIAN outsourcer Infosys yesterday raised its annual sales forecast boosting hopes of an industry recovery.
The company, a trendsetter for the $60bn (£36.9bn) Indian outsourcing sector, expects spending on outsourcing to go up.
Its quarterly results showed quarterly earnings fell for the first time but were still above market forecasts, sending its shares up four per cent – their biggest gain in almost three months.
Infosys, which counts Goldman Sachs, BT Group and BP among its clients, expects earnings per share to rise 0.4 per cent for the full year, compared with its previous forecast for a 6.7-7.1 per cent drop.
It expects revenue in dollars for the year to March 2010 to rise 1.8-2 per cent.