28th Jan 2025 11:16
(Alliance News) - Computacenter PLC on Tuesday said it ended 2024 on a high after its strongest half-year yet, but expects full-year profit at the lower end of analyst forecasts.
The Hatfield, England-based technology services provider estimated that 2024 annual revenue rose 0.5% in constant currency, but declined 2% on a reported basis. In the prior year, the firm recorded full-year revenue of GBP6.92 billion.
Computacenter expects full-year adjusted profit before tax at the low end of the GBP253.6 million to GBP266.5 million analyst forecast range. The company-compiled consensus is GBP261.3 million. This compares with GBP278.0 million achieved the prior year.
Performance was notably stronger in the second-half, said the firm, with adjusted operating profit for the six months to December 31 expected to beat the previous year on both a constant currency and reported bases.
Its shares were up 5.6% at 2,230.01 pence each on Tuesday morning in London.
"This represents Computacenter's most profitable half-year in its history and we ended the year with a record number of customers," the company said.
Nonetheless, Computacenter noted a GBP700 million adverse impact from stronger sterling valuations, and lower interest income after early completion of a GBP200 million buyback programme in July.
The firm said it entered 2025 with a product order backlog "significantly ahead" of the year prior, especially in North America, but larger US and UK technology sourcing projects "have slipped into the early part of 2025". The company remained wary of cost headwinds in Europe and the UK, but expects ongoing growth in North America.
Computacenter's full-year results are scheduled for release on March 18.
By Holly Munks, Alliance News reporter
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