Computacenter delivers 'record H2 performance'

(Sharecast News) - Computer services business Computacenter said on Tuesday that it had delivered a "record H2 performance" as major customer numbers also hit an all-time high.

Computacenter stated that despite "a more challenging market backdrop" in FY24 and strong comparators in FY23, total revenues, on a gross invoiced income basis, increased by 0.5% in constant currency and decreased by 2% on a reported basis.

However, the FTSE 250-listed firm cautioned that while it was pleased with overall execution towards the end of the year, with Germany and North America delivering strong performances, parts of its larger current Technology Sourcing projects in the US and the UK had slipped into the early part of FY25.

"For the second half of 2024 adjusted operating profit is expected to be ahead of the equivalent period in 2023 in both constant currency and on a reported basis. This represents Computacenter's most profitable half year in its history and we ended the year with a record number of customers generating over £1.0m of gross profit per annum," said Computacenter.

"Looking to 2025 as a whole, we are mindful of the uncertain macroeconomic and political environments in some of the European countries in which we operate. In the UK, rises in employer taxes (National Insurance) from April are expected to have an adverse impact of c.£5m in 2025. In North America, following a strong performance in 2024, we continue to be excited by the growth opportunities we see ahead. Overall, we expect to make progress in FY 2025 with earnings per share benefiting further from the impact of the share buyback."

As of 0840 GMT, Computacenter shares were up 3.98% at 2,196.00p.

Reporting by Iain Gilbert at Sharecast.com

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