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Computacenter misses £2bn t/o by a whisker

Hits targets but profits down on 1999

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Computacenter has posted pre-tax profits of £55.6 million for the 12 months to 31 December 2000, down 26 per cent on the £75.1 million it made in 1999. But it did hit its targets.

Sales for the year were up 13 per cent to £1.99 billion. It has been £1.76 billion in 1999.

Mike Norris, Chief Executive, acknowledged that Y2K had caused problems in the first half of the year and some services staff had been left twiddling their thumbs.

He said: "We had a challenging start to 2000 but market conditions improved as the year progressed. Profitability in the second half was ahead of the corresponding period of 1999. Trading in the first few weeks of the current year has been in line with our expectations. Now that the millennium is behind us we are confident of growth prospects for the Group."

To drive business in 2001 Computacenter is looking for Windows 2000 take-up to improve and increased demand for e-business systems.

The UK business has been restructured into new operating divisions under the direction of new COO, Chris Webb, who’s been promoted from within the company. A new services development and strategy division has been created under the direction of Gordon Channon, who joined Computacenter from BT in early 2000.

Former non-exec director Ron Sandler is to succeed co-founder Philip Hulme as Chairman. Hulme will remain on the Board as a non-executive director. ®

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