28th Aug 2015 06:41
LONDON (Alliance News) - FTSE 250-listed Computacenter PLC said Friday it expects its 2015 adjusted profit performance to be slightly ahead of its original expectations due to a boost from one-off gains, as it posted a rise in pretax profit for the first half of 2015.
The IT services company reported pretax profit of GBP70.7 million, up significantly from GBP18.0 million a year before, despite revenue declining slightly to GBP1.44 billion from GBP1.46 billion, boosted by a GBP42.2 million gain from its sale of its recycling business R.D Trading Ltd in February.
On an adjusted basis, excluding amortisation and other exceptional costs, pretax profit rose to GBP29.1 million from GBP25.6 million.
The company's revenue was held back by the weak euro, and on a constant currency basis, revenue would have risen 6.5%. The company said its UK business had benefited during the first half from a number of managed services contracts it won in 2014 starting, new contract wins in Germany, and improvements in its operations in France.
Computacenter proposed an interim dividend of 6.4 pence, compared to 5.9p the previous year. On a pro-forma basis, taking into account a share consolidation, the company's interim dividend in the previous year was 6.7p.
"'Despite the significant headwinds created by a weak euro, the operating performance of the group remains in line with the board's original expectations for 2015. However, the group has additionally benefited from a number of one-off gains, which will not be repeated in either the second half of the year or during 2016," said Chief Executive Officer Mike Norris in a statement.
"As a result of the impact of these additional gains, we now anticipate that the group's 2015 adjusted profit performance will be slightly ahead of the board's original expectations for that period," Norris added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Computacenter