European performance pushes Computacenter upwards

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European performance pushes Computacenter upwards
Master Investor Magazine

Master Investor Magazine 53

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The price of shares in FTSE 250 computer equipment provider Computacenter (LON:CCC) has risen by 4.43% to 1,461p (as of 12:30 BST) after the company announced a 20.8% increase in revenues for the six months ended 30th June. This improvement was driven by strong performances in France and Germany as well as recent acquisitions, but performance in UK markets suffered due to one-off contracts in the prior year.

CEO Mike Norris commented: “The Board’s outlook remains in line with its expectations, which were upgraded as per the Trading Update on 31 July 2019.

“Whilst the performance of the first half of 2018 presented a very difficult challenge to beat, the opposite is true of the second half. The Board expects that the full year 2019 profit growth, in monetary value, will be the best in the company’s history. This performance will be predominantly achieved without the aid of acquisitions, however we expect to see a more significant contribution from our acquired business in the USA during the second half.

“Looking further ahead will always be challenging but the momentum in the industry remains positive as customers continue to invest in technology to digitalise their business. This industry’s momentum is backed up by an improving operational capability which both increases the quality we deliver to customers and reduces operational cost. While Computacenter will continue to remain predominantly an organic growth company, which has served us so well for many years, this has been enhanced by our acquisitions over the last 12 months which gives us additional growth drivers.

“Whilst we are fully aware of macroeconomic challenges and take nothing for granted, we remain as positive about the future as we have ever been“.

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