Computacenter jumps on good interims
Revenues and profits up - except in UK
Computacenter shares jumped over five per cent this morning after the reseller posted better than expected interim results for the six months ended 30 June 2007.
Revenues were up 4.1 per cent to £1.16bn and operating profits up 12.1 per cent to £12.8m. However, pre-tax profits were down 11.8 per cent at £12.8m.
Computacenter said the period including winning the BT Group contract for desktop services but admitted profits in the UK were hit by price erosion and contract renewals. Overall UK revenues - excluding acquisitions - were down 1.8 per cent to £649.2m while operating profit in the UK slipped 27.9 per cent to £11.9m.
It said it was making continued progress in its long-running restructure of its French operations.
The dividend for the six months is the same as last year - 2.5p. Computacenter shares were up 9.5p to 189p this morning - down from a year high of 302p.
Outlook for the year is unchanged.
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