Infrastructure and services giant Computacenter is proceeding with its plans to return £75m to shareholders.
The firm released a trading statement this week following its AGM on Friday 5 May which revealed that its current trading continues to be down on the same period last year, but the company had achieved a “satisfactory” result in its first quarter.
The statement said: “In our preliminary results announcement of 14 March, we stated that trading in the first two months of 2006 had been below the comparable period in 2005. We also drew attention to the fact that in recent years our sales have become increasingly weighted towards the end of each quarter, such that trading in the early weeks of the quarter now provides a less reliable indicator of performance for the period as a whole.”
“This pattern of sales weighting was repeated in the first quarter of 2006. Trading strengthened in the latter part of March, producing a satisfactory overall first quarter result for the group,” the statement said.
It continued: “Additionally in our preliminary results we announced the Board had decided to return £75m to shareholders in the second quarter of 2006 on the assumption that various tax matters could be satisfactorily resolved within the time frame. These tax matters have now been resolved and we are proceeding with our plans to return capital to shareholders.”
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