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(Alliance News) - Computacenter PLC on Wednesday said that first quarter performance was weaker than the previous year, though the company anticipates its strong business pipeline contributing to solid, second half-weighted annual results.
Computacenter is a Hatfield, England-based computer technology and services provider.
In the first quarter ended March 31, Computacenter said that trading had progressed "broadly in line" with the company's expectations, with particularly strong performances recorded in Germany and North America.
However, Computacenter added that trading in the UK had remained challenging.
In the quarter, Computacenter said that Technology Sourcing revenue had returned to normal levels compared to the same quarter of 2023, in which the company had benefitted from a "small number of exceptional contracts".
Services revenue for the quarter was below the previous year's figure, as the expiry of several Managed Services contracts offset growth in Professional Services.
Full financial figures are not disclosed by Computacenter in its quarterly updates.
At the beginning of the second quarter, Computacenter also commenced a "larged four-year public sector contract in the UK", though the company did not disclose specific details.
Looking ahead to its interim results, Computacenter said that adjusted pretax profit for the first half will be below the previous year's figure of GBP121.8 million.
However, given its "committed product order backlog and pipeline of opportunities", Computacenter is confident that its yearly performance will be second-half weighted, and contribute to a stronger annual performance.
In 2023, the company delivered GBP272.1 million in pretax profit, GBP6.92 billion in revenue, and GBP175.0 pence in basic earnings per share.
Computacenter is scheduled to release its half-year report on September 9.
Shares in Computacenter were down 3.1% at 2,500.00 pence each in London on Wednesday morning.
By Hugh Cameron, Alliance News reporter
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