23rd Jan 2020 08:05
(Alliance News) - Computacenter PLC on Thursday said 2019 was a record year for the IT infrastructure services firm, with double-digit revenue growth and profit rising "by the largest absolute amount ever".
The FTSE 250-constiuent said in the 12 months to December 31, revenue rose by 16% year-on-year, or 17% at constant currency. Excluding the contributions of acquisitions, organic revenue was 3% higher, or up 4% at constant currency.
A 16% annual climb will see revenue jump to GBP5.05 billion from GBP4.35 billion.
"2019 has been one of the most successful years in Computacenter's history. Not only have we recorded our best ever revenue, profit, earnings per share and cash generation from ongoing operations, but we have increased our profitability by the largest absolute amount ever," the company said.
In the UK, revenue was flat year-on-year, Computacenter said, and it maintained its market share in Germany despite the country's "well-publicised industrial slow-down".
France, where Compuacenter warned there is still "much work" to be done, delivered its largest ever profit contribution.
Elsewhere, the US "recovered strongly in the second half", after a tricky interim, the Netherlands delivered profit, and both Switzerland and Belgium performed in line with internal expectations.
"The results of 2019 set a high bar for the business as we go into 2020. However, we go into the year with confidence, helped by the strong momentum within the group and the broader market. We have multiple growth drivers. Geographically, we have expanded our footprint," Computacenter said.
Shares were 0.1% lower at 1,757.90 pence each in early trade in London on Thursday morning.
By Eric Cunha; [email protected]
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