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Finnish Tieto sees first signs of market recovery

Posted on: Thu, 26 Nov 2009 14:35:00 EST

Symbols: TCYBF

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TCYBF | Quote | Chart | News | PowerRating -- 26 November 2009 - Finland-based IT consultancy Tieto Oyj (HEL: TIE1V)
sees small signs of recovery of the economy, the development being very
different in the different areas of operation, CEO Hannu Syrjala said
today at the company's capital markets day in Helsinki.

"The recovery is coming but it will take a further few months before
the situation in the IT sector improves," Syrjala said.

The development for Tieto's different units is mixed. The Financial
Services unit has started to recover, while Telecom has continued to
show weak performance.

Tieto's development within application management and infrastructure
services is stable, while that within the project and consulting
operations is still weak.

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