Despite ongoing problems EDS’ profits rose from £235m in 2006 to £358m last year, a rise of 52%. Full-year total revenue for 2007 increased by 4% to just over £11bn despite a continued reduction in new contract values.

EDS signed £3.1 billion in contracts in the fourth quarter 2007, versus £3.8 billion in the year-ago quarter. Fourth quarter 2007 signings included seven contracts with values greater than £50 million. Despite this 2007 total contract value was down 26% on 2006.

“EDS posted a solid fourth quarter to end a year of operational progress in 2007,” said Ron Rittenmeyer, EDS chairman, president and CEO. “We continued to improve our competitiveness and made progress toward our financial goals.” See News Analysis for more details.