Computacenter remains the UK's Top VAR by a country mile after its domestic business returned to growth in its latest financial year ending 31 December 2017. The recent recipient of a ‘Boring Award' for its monotonous profit growth, the London-listed giant saw group revenue soar 17 per cent to £3.8bn last year, with the UK business generating close to £1.5bn of the total - a nine per cent rise. UK operating profits tumbled by 18 per cent to £38.3m, as a shift in the revenue mix towards lower-margin software deals and higher administrative expenses dented the bottom line. Underscoring the scale of its international ambitions, Computacenter acquired Misco's Dutch arm in August 2018 before making its maiden US acquisition in October in the form of FusionStorm. The latter deal will boost its US headcount to 1,000 staff and hand it its first US-only clients. Computacenter got off to a flying start in its fiscal 2018, with first-half revenues powering up by 18 per cent and UK sales booming 30 per cent. In August, the company's share price reached its highest value since the turn of the century as chief executive Mike Norris - who is the longest-standing CEO of a FTSE 350 firm - pointed to "buoyant market conditions". But the reseller and IT services powerhouse's rapid growth faltered in its third quarter ending 30 September 2018. Group revenues fell three per cent to £900m, with the UK's contribution tumbling nine per cent to £296m. Norris blamed the shortfall on "tough comparatives" from Q3 2017, telling the FT he was "supremely confident" that Computacenter would have a record 2018. "And we will do it again next year", he promised.
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