UK IT services provider Computacenter saw profit rise 27.7 per cent to £42.1m in 2007.

Group revenue was up 4.8 per cent to £2.38bn, the first time sales have grown for the company since 2003.

The firm has yet to see any impact from the credit crunch, according to chief executive Mike Norris.

"We believe that we have made, and are continuing to make, strong progress in all of these areas," he said.

Computacenter's biggest customers are telecoms giant BT, German car manufacturer BMW and the French Ministry of Defence.

Shares in the company rose 9.9 per cent on the news.

Computacenter's move into shared services is one strategy that seems to be paying off, said Ovum analyst Kate Hanaghan.

"The company claims it was these [services] that helped it to secure a £19m, five-year managed services contract with Marks and Spencer," she said.

"Additionally, Computacenter has made certain internal changes to aid growth and profitability in the services business. These include improving how it is aligned with customer business strategies and objectives."