Computacenter has issued a buoyant update, revealing that first-half revenues and profits have come in significantly ahead of last year.
Profits for the six months to 30 June will be more than 10 per cent up on the same period in 2009 and in line with management expectations, the corporate reseller and services giant said in a pre-close trading update.
Revenues were up five per cent, or seven per cent excluding the effect of the disposal of UK distribution arm CCD.
Computacenter also highlighted an improvement in its UK services business in the second quarter. Total UK revenues grew six per cent in the first half, excluding the CCD sale, with services up seven per cent and product six per cent. This compares to services growth of three per cent in quarter one and the giant described its services pipeline for 2011 as “positive”.
The firm’s German business grew revenues five per cent, while Computacenter France posted a nine per cent sales hike.
Group net funds at the end of the period stood at £95m before customer-specific financing, compared with £47m a year earlier.
“While we are fully aware that market conditions remain highly competitive and the economic outlook is far from certain, the first six months of 2010 has led us to believe that this will be another year of progress for Computacenter and we remain on track to achieve our expectations for the year-end outcome,” the firm said in a statement.
After going off the boil in recent weeks, London-listed Computacenter’s share price has rebounded up to the £3 mark over the last few days on speculation over the update.
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