Computacenter sees FY profits 'marginally' ahead

IT services company Computacenter on Wednesday said full-year adjusted pre-tax results to be marginally above expectations, driven by the UK and Germany and offset by a weaker French performance.

The company said full year revenue rose 8%. Group services revenue was up 1%. Technology sourcing revenue for the year increased by 11%.

Overall UK revenue for the year increased 10%, with services revenue down 5%, offset by a 17% jump in technology sourcing revenue.

In Germany, overall revenue grew by 9%. French revenue fell 3%, while international operations increased overall revenue by 12%.

per cent and by 13 per cent in constant currency. Services revenue for the year increased by 21 percent and by 24 per cent in constant currency.

“The performance of the two businesses we acquired in the second half of last year collectively outperformed our expectations, particularly with the over performance of our new business in the USA. Collectively these businesses delivered revenue in excess of £220m in the fourth quarter,” Computacenter said..

“At the end of the year, group cash and cash equivalents were ahead of the board's expectations. We were extremely pleased with both the cash generation during the year and the closing cash and cash equivalents position.”

“We believe that we will again show financial progress during 2019. The first half performance in 2018 will create a challenging comparison but positive market momentum, driven by our customers' appetite to invest in digital technology to enhance their business, gives the board confidence in the future.”