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Private equity abandons Civica bid

Civica has gots caught up in the credit crunch, but new contract wins suggest that business remains steady
August 8, 2007

Shares in public-sector IT specialist Civica plunged 16 per cent when it said that talks with private equity bidders had terminated.

IC TIP: Hold at 226p

But the shares bounced back on news of a £45m contract win with Sheffield's Building Schools for the Future programme, plus a smaller deal with Essex County Council. Altium Securities expects EPS of 20.8p this year and 25.1p next year.