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The National
10 hours ago
- Business
- The National
Kate Forbes: The world is ignoring those who talk Scotland down
It's why we talk about a Team Scotland approach to economic growth – finding solutions, fixing problems and delivering results. The various moving parts of Team Scotland work together to attract, secure and support investment in exciting opportunities. With various public and private sector partners, Team Scotland works together to create momentum. Despite persistent global headwinds, recent data from EY highlighted Scotland's attractiveness to global investment, and comparatively greater resilience in the face of general economic turbulence. EY's data places Scotland firmly as the UK's top destination for foreign direct investment (FDI) outside of London – for the tenth year in a row – while Aberdeen, Edinburgh and Glasgow remain among the top six UK cities for FDI projects. Although the total number of new projects in Scotland fell 4.9% from record figures in 2023, that number is marginal compared to a drop of 13% in the rest of the UK, 14% in France and 17% in Germany. READ MORE: Scottish Government announces £23.5 million for active travel programmes Despite a slight dip in the total number of projects in 2024 (135 projects, down from a record 142 in 2023), Scotland's share of overall UK projects actually increased to 15.8% (from 14.4% in 2023). This shows Scotland's relative strength compared to broader declines in FDI across the UK and Europe. EY's survey of global investors found that a quarter of those planning to invest in the UK are targeting Scotland, maintaining the country's long-standing position in investors' eyes as the UK's preferred FDI destination outside of London. I recently visited the Glasgow offices of Canadian IT and business consulting services firm CGI Inc, which employs around 750 people across its Glasgow, Edinburgh, Borders and Aberdeen offices, and has nearly 100,000 employees globally. CGI Inc is one of the many thriving international businesses choosing to call Scotland home. The fascinating ZeroAvia, hailing from the US (and developing full hydrogen-electric aircraft engines), is another new resident, along with the Australian not-for-profit ticketing hub Humanitix, who recently opened an office in Edinburgh. 2025 is bringing further significant investment and exciting projects to Scotland. I realise some may be wondering why this is important, or what Scotland's leading place in FDI means. How does FDI benefit the people of Scotland? FDI plays a crucial role in Scotland's economy, contributing significantly to job creation, economic growth, innovation and exports. Quite simply, foreign-owned companies in Scotland, although representing a smaller percentage of all businesses, have a disproportionately large impact on the economy. READ MORE: Scottish Government launches new 'milestone' plan for disability equality These companies account for a substantial share of employment in Scotland, contributing significantly to job creation. These jobs often offer higher average wages than those in domestically owned businesses. Foreign-owned businesses contribute a disproportionately high percentage to Scotland's Gross Value Added (GVA), indicating that these companies possess high productivity and make an outsized economic impact. Inward investors have outstripped domestic businesses in investing in business research and development spending, which fosters innovation and technological advancement within the nation. These innovators also generate a large portion of the total business turnover in Scotland and become major drivers behind Scottish exports. FDI can bring new skills and management practices, which can 'spill over' and benefit domestic Scottish businesses through supply-chain opportunities, hiring and knowledge sharing. Geopolitical headwinds are clearly affecting investor confidence globally. Scotland's FDI resilience in the face of this crisis of confidence is an incredible endorsement of Scotland as a destination for global investment. Scotland's ability to maintain high project numbers and even increase its share of UK projects comes against a backdrop of a marked decline in FDI across Europe and the UK overall. READ MORE: Scottish Labour drop below Alba and Greens as by-election results called A huge amount of work, across both the private and public sectors, goes into securing these projects, which are vital for economic growth, job creation and bringing benefits across our towns and cities. It's a privilege to work with Team Scotland to secure these global opportunities, and the Scottish Government will continue to work with business partners to build our country's reputation as a world-class location for investment. In this digital and hyper-connected world, the continued pursuit of strategic inward investment will propel Scotland towards being a fairer and more prosperous nation. It's also a sign that investors from abroad don't listen to the relentless whingeing of the opposition in the Scottish Parliament about Scotland. Where the opposition see weakness, international allies see strengths.
The National
15 hours ago
- Business
- The National
The numbers prove the world is ignoring those who talk Scotland down
Despite persistent global headwinds, recent data from EY highlighted Scotland's attractiveness to global investment, and comparatively greater resilience in the face of general economic turbulence. EY's data places Scotland firmly as the UK's top destination for foreign direct investment (FDI) outside of London – for the tenth year in a row – while Aberdeen, Edinburgh and Glasgow remain among the top six UK cities for FDI projects. Although the total number of new projects in Scotland fell 4.9% from record figures in 2023, that number is marginal compared to a drop of 13% in the rest of the UK, 14% in France and 17% in Germany. READ MORE: Scottish Government announces £23.5 million for active travel programmes Despite a slight dip in the total number of projects in 2024 (135 projects, down from a record 142 in 2023), Scotland's share of overall UK projects actually increased to 15.8% (from 14.4% in 2023). This shows Scotland's relative strength compared to broader declines in FDI across the UK and Europe. EY's survey of global investors found that a quarter of those planning to invest in the UK are targeting Scotland, maintaining the country's long-standing position in investors' eyes as the UK's preferred FDI destination outside of London. I recently visited the Glasgow offices of Canadian IT and business consulting services firm CGI Inc, which employs around 750 people across its Glasgow, Edinburgh, Borders and Aberdeen offices, and has nearly 100,000 employees globally. CGI Inc is one of the many thriving international businesses choosing to call Scotland home. The fascinating ZeroAvia, hailing from the US (and developing full hydrogen-electric aircraft engines), is another new resident, along with the Australian not-for-profit ticketing hub Humanitix, who recently opened an office in Edinburgh. 2025 is bringing further significant investment and exciting projects to Scotland. I realise some may be wondering why this is important, or what Scotland's leading place in FDI means. How does FDI benefit the people of Scotland? FDI plays a crucial role in Scotland's economy, contributing significantly to job creation, economic growth, innovation and exports. Quite simply, foreign-owned companies in Scotland, although representing a smaller percentage of all businesses, have a disproportionately large impact on the economy. READ MORE: Scottish Government launches new 'milestone' plan for disability equality These companies account for a substantial share of employment in Scotland, contributing significantly to job creation. These jobs often offer higher average wages than those in domestically owned businesses. Foreign-owned businesses contribute a disproportionately high percentage to Scotland's Gross Value Added (GVA), indicating that these companies possess high productivity and make an outsized economic impact. Inward investors have outstripped domestic businesses in investing in business research and development spending, which fosters innovation and technological advancement within the nation. These innovators also generate a large portion of the total business turnover in Scotland and become major drivers behind Scottish exports. FDI can bring new skills and management practices, which can 'spill over' and benefit domestic Scottish businesses through supply-chain opportunities, hiring and knowledge sharing. Geopolitical headwinds are clearly affecting investor confidence globally. Scotland's FDI resilience in the face of this crisis of confidence is an incredible endorsement of Scotland as a destination for global investment. Scotland's ability to maintain high project numbers and even increase its share of UK projects comes against a backdrop of a marked decline in FDI across Europe and the UK overall. READ MORE: Scottish Labour drop below Alba and Greens as by-election results called A huge amount of work, across both the private and public sectors, goes into securing these projects, which are vital for economic growth, job creation and bringing benefits across our towns and cities. It's a privilege to work with Team Scotland to secure these global opportunities, and the Scottish Government will continue to work with business partners to build our country's reputation as a world-class location for investment. In this digital and hyper-connected world, the continued pursuit of strategic inward investment will propel Scotland towards being a fairer and more prosperous nation. It's also a sign that investors from abroad don't listen to the relentless whingeing of the opposition in the Scottish Parliament about Scotland. Where the opposition see weakness, international allies see strengths.
Hamilton Spectator
30-04-2025
- Business
- Hamilton Spectator
CGI reports second-quarter profit up from a year ago
MONTREAL - CGI Inc. reported its second-quarter profit rose compared with a year ago as its revenue also climbed higher. The business and technology consulting firm says it earned $429.7 million or $1.89 per diluted share for the quarter ended March 31. The result compared with a profit $426.9 million or $1.83 per diluted share in the same quarter last year. Revenue for the quarter totalled $4.02 billion, up from $3.74 billion a year earlier. On an adjusted basis, CGI says it earned $2.12 per diluted share in its latest quarter, up from an adjusted profit of $1.97 per diluted share a year earlier. Bookings for the quarter totalled $4.48 billion, while the company's backlog stood at $30.99 billion at the end of the quarter. This report by The Canadian Press was first published April 30, 2025. Companies in this story: (TSX:GIB.A)
Winnipeg Free Press
30-04-2025
- Business
- Winnipeg Free Press
CGI reports second-quarter profit up from a year ago
MONTREAL – CGI Inc. reported its second-quarter profit rose compared with a year ago as its revenue also climbed higher. The business and technology consulting firm says it earned $429.7 million or $1.89 per diluted share for the quarter ended March 31. The result compared with a profit $426.9 million or $1.83 per diluted share in the same quarter last year. Revenue for the quarter totalled $4.02 billion, up from $3.74 billion a year earlier. On an adjusted basis, CGI says it earned $2.12 per diluted share in its latest quarter, up from an adjusted profit of $1.97 per diluted share a year earlier. Bookings for the quarter totalled $4.48 billion, while the company's backlog stood at $30.99 billion at the end of the quarter. During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. This report by The Canadian Press was first published April 30, 2025. Companies in this story: (TSX:GIB.A)
Yahoo
31-03-2025
- Business
- Yahoo
Is CGI Inc. (GIB) the Most Oversold Large Cap Stock to Invest in Now?
We recently published a list of . In this article, we are going to take a look at where CGI Inc. (NYSE:GIB) stands against other most oversold large cap stocks to invest in now. Wall Street is being impacted by the uncertainty surrounding the tariff news. The broader has dropped a lot since Trump took office on January 20, and investors are mostly worried about tariffs because they think they could hurt economic growth and cause inflation. Investors think trade policies can reduce consumer confidence and restrict businesses' ability to invest capital, while Trump believes tariffs can boost national revenue, promote broad-based growth, and be used as a negotiation weapon with other nations. According to Franklin Templeton, the Magnificent Seven's supremacy in AI has allowed US stocks to generate significant returns over the last few years, with the broader market frequently hitting all-time highs. The outlook for the market as a whole is favorable, notwithstanding high valuations. Sales growth has been accelerating, innovation and investment are still happening at a rapid pace, and this year's earnings are predicted to increase by double digits. Additionally, the administration of the US economy is more business-friendly. However, there are concerns, primarily associated with US trade policy and the anticipated effects of tariffs on important industries, such as technology. Franklin Templeton thinks that despite these risks, investor confidence in US stocks should continue to be high. The new administration's policy reforms are anticipated to finally produce long-term benefits for the larger US economy, notwithstanding the possibility of increased dangers. Franklin Templeton also stated that although the Mag 7 stocks are positioned for long-term success, market leadership is anticipated to expand as and when innovation accelerates. According to the investment firm, active management is crucial. The transition from AI platforms to infrastructure is still in progress. Consequently, it is anticipated that the success of investments will depend on the ability to select the appropriate companies at the right time—those that have the technology, strategy, and flexibility to continue and sustain long-term growth. Thanks to innovation and investment, US stocks—mostly large-cap stocks—have been doing well. Notably, the Dow index has increased by more than 4.5% in the last six months. The investment business sees expanding chances beyond such market leaders, even though the Mag 7 stocks still sustain the market momentum. The competitive landscape is still dynamic and has been generating new development sectors as a result of the ongoing AI-driven cycle. For our methodology, we screened for stocks with a market capitalization exceeding $10 billion and a relative strength index (RSI) below 40. We then ranked these stocks based on the lowest RSI as of March 23, 2025. An RSI below 40 suggests that the stock is oversold. At Insider Monkey, we are obsessed with hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A software developer testing an application on a mobile device. Relative Strength Index: 28.77 CGI Inc. (NYSE:GIB) is a global IT and business consulting firm based in Montreal, Canada, helping organizations improve efficiency through IT solutions. It offers consulting, systems integration, and managed IT services, working with clients across industries like government, banking, healthcare, and manufacturing. CGI Inc. (NYSE:GIB) delivered strong first-quarter results for the fiscal year 2025 and showed steady growth and operational efficiency. Its revenue rose 5.1% year-over-year to C$3.8 billion, with notable growth in the U.S. Federal sector (14%), Canada (5.9%), and the Asia-Pacific region (5.2%). Its bookings reached C$4.2 billion, resulting in a solid book-to-bill ratio of 110%, which reflected strong demand for CGI's services. The company's profitability also improved, with earnings before income taxes reaching C$592 million, a margin of 15.6%, up 100 basis points from last year. The adjusted EBIT margin stood at 16.2%, while diluted EPS climbed 15% to C$1.92. The company generated C$646 million in cash from operations, representing 17.1% of total revenue, and approved a quarterly dividend of C$0.15 per share. Notably, CGI Inc. (NYSE:GIB) was among the most oversold stocks recently, reflecting market fluctuations despite its strong financial performance. CGI Inc. (NYSE:GIB)'s growth was fueled by strong performance in North America, particularly in government and financial services. Cost optimization efforts contributed to higher profitability, while the company's long-term strategy of strategic acquisitions and high-value services continued to drive success. CGI Inc. (NYSE:GIB) also acquired BJSS recently, a major IT and software engineering consultancy in the U.K., expanding its capabilities in key commercial industries, which further strengthened its position. The company has also earned endorsements from analysts recognizing its expertise in AI, data modernization, cloud, and cybersecurity, reinforcing its reputation as a leader in the IT services industry. Overall, GIB ranks 11th on our list of most oversold large cap stocks to invest in now. While we acknowledge the potential of GIB, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GIB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at .
