Computacenter has calmed investors by giving analysts a soothing briefing yesterday and saying it would definitely hit 2000 pre-tax profit targets of £54 million.

The firm's shares hit a four-week high on this. The stock is 75 per cent below its February peak.

Chief exec Mike Norris said the company had not lost credibility with the City but it had lost confidence according to The Times. He added the business had enjoyed a solid December as IT spending perked up after Y2K. ®