Computacenter is hailing a fifth successive year of revenue growth as turnover inched up 1.2 per cent for the year ended 31 December 2014.
The London-listed infrastructure and services giant saw group revenue hit £3.1bn for the year, compared with £3.07bn in FY 2013. Pre-tax profit stood at £85.9m, compared with £81.7m the previous year.
UK turnover stood at £1.41bn, with Germany bringing in €1.44bn (a 3.3 per cent drop on 2013 on a constant currency basis) and France saw revenue increase by 6.4 per cent.
However, overall losses in France for the year increased to £8.8m compared with a £7.3m loss in 2014, primarily down to a £9.1m restructuring charge as the business looks to "improve competitiveness" in the region.
The overall performance in Germany was described as disappointing, but it enjoyed a strong finish to the year and has entered 2015 in a more positive position.
Mike Norris, chief executive of Computacenter, said: "The ongoing strategic development of the group, the associated investments it has made since the beginning of 2013 and our recent services wins – particularly in the UK but also more latterly in Germany – gives us confidence for the future.
"The short term will not be without its challenges. In the UK, there will be a significant number of our 2014 services wins taken on during this year, and these will take time to mature. While we are encouraged by the fourth-quarter performance in Germany, it is too early to tell whether this is a substantial move in the right direction, or simply represents a good quarter.
"The group has transitioned over the last few years to become a business with greater visibility of earnings due to increased services content. Our French business clearly remains in the early stages of making this transition, and while it has a small number of attractive existing contracts, it otherwise remains out of date and uncompetitive. While we are confident of reducing the loss materially in France during 2015, a return to profitability is some way off."
In total, Computacenter’s services revenue grew by 4.8 per cent in constant currency to £985.5m.
Norris added: "Our business remains highly cash generative, as evidenced by the recent return of value to shareholders, and notwithstanding the challenges outlined above, we are determined to make 2015 a year of progress for the group."
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