Computacenter's buoyant year continues as profit guidance is raised

Services giant expects profit before tax to be around £190m for its fiscal 2020

Computacenter has upgraded its outlook for the remainder of 2020, anticipating that adjusted profit before tax is set to be no less than £190m.

The services outfit released a trading update this morning for the 11 months ending 30 November 2020 and stated that the positive trading throughout Q2 and Q3 has continued into the fourth quarter.

Its share price rose as much as 3.7 per cent on foot of the news this morning.

Computacenter's adjusted profit before tax in FY19 stood at £146.3m.

"The positive trading we have experienced in the second and third quarters of the year has continued into the fourth quarter to date and we have good visibility of our likely December sales," it stated in the update.

"Given this, the board feels it is necessary to upgrade the outlook made at the time of our interim results on 09 September 2020. It is now the board's opinion that our adjusted profit before tax for the year to 31 December 2020 is unlikely to be less than £190 million.

The reseller giant added that customers are having to choose between that have tightened budgets and are delaying projects and using this time to invest in their digital transformations.

Computacenter has had a barnstorming year with further expansion into the US with its Pivot acquisition, as well as that of BT Services France. In September it hit its highest valuation since the Dotcom era and long-standing CEO Mike Norris was awarded the Industry Achievement Award at last month's Channel Awards.