July 12, 2018 / 6:42 AM / 4 days ago

Computacenter sees 2018 well ahead of expectations

(Reuters) - IT services firm Computacenter Plc expects full-year results to be “comfortably in excess” of its prior expectations, driven by continued momentum within its supply chain business across all geographies, particularly in Germany, it said on Thursday.

Customer investment in new IT infrastructure, including digitalisation, has fuelled the company’s growth, but its domestic business has taken a hit as the United Kingdom prepares to leave the European Union.

The FTSE-250 firm, which started in 1981 as a reseller of computers, expanded into France and Germany and listed in 1998, providing IT infrastructure services to corporate and government clients.

Without giving figures, the firm said it had made “considerable progress” in adjusted profitability in the six months of trading to June 30, and further progress in terms of adjusted earnings per share following a buyback completed in February.

“Whilst there is still a significant amount to do in the second half of the year, Computacenter believes trading result for the 2018 financial year will now be comfortably in excess of its previous expectations set out in the first-quarter trading update,” the company said in a statement.

Computacenter said in April that revenue for the first quarter increased by 23 percent, with German revenue climbing 19 percent.

Reporting by Justin George Varghese in Bengaluru; editing by Patrick Graham, Amrutha Gayathri

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