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Prices & Quotes - UK Markets - Computacenter (CCC)

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Share Price:
Down 2,696.00p
Change Today:
-60.00p
Market Cap:
3,307.67m
Sector:
Software & Computer Services

Computacenter predicts annual profit up at least 23%

By Sean Farrell

Date: Wednesday 09 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Computacenter predicted annual adjusted pretax profit of at least 180m as it reported a 39.4% increase in first-half profit supported by booming business in the UK during the Covid-19 crisis.
Adjusted pretax profit for the six months to the end of June rose to 74.6m from 53.5m a year earlier as revenue increased 1.5% to 2.46bn. The FTSE 250 company increased its interim dividend by 21.8% to 12.3p a share.

Annual profit will increased by at least 23% to 180m from 146.3m, the company said. Computacenter also said it agreed to buy Canada's Pivot Technology for C$105.8m (62m) to expand in the US and Canada.

The company said big reductions in spending by industrial customers was offset by new business from the government and the financial services sector. Computacenter said cost cuts related to Covid-19 and fatter services and technology sourcing margins contributed to increased profit.

UK adjusted operating profit almost doubled to 45.9m from 23.5m a year earlier as customers spent to keep their businesses running with employees working from home during the Covid-19 crisis. Profit in Germany rose 15.4% to €40.5m but fell 55% in France to €4.3m. US profit more than tripled to $6m from $1.7m.

Mike Norris, Computacenter's chief executive, said: "Our markets have proved resilient as our customers have invested in their infrastructure to support their businesses, they have utilised the skills of our people and we have managed our cost base.

"While nothing can be taken for granted, it is the board's view that, based on current business activity levels, our adjusted profit before tax for the year is unlikely to be less than 180 million. We feel it is important to give specific guidance given the broad range of market expectations concerning our likely results."

Norris said he expected Computacenter's customers to keep investing in technology.

Computacenter said it spent 15m on pay for furloughed workers. Including government support the net cost of Covid-19 was about 5m and the company has decided to repay 1.1m to the UK government to cover its claim under the job retention scheme in April.







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Computacenter Market Data

Currency UK Pounds
Price 2,696.00p
Change Today -60.00p
52 Week High 3,030.00p
52 Week Low 2,086.00p
Volume 167,828
Shares Issued 122.69m
Market Cap 3,307.67m

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
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Computacenter Dividends

  Latest Previous
  Interim Final
Ex-Div 23-Sep-21 03-Jun-21
Paid 22-Oct-21 02-Jul-21
Amount 16.90p 38.40p

Trades for 21-Jan-2022

Time Volume / Share Price
16:36 6,500 @ 2,695.67p
16:35 28,183 @ 2,696.00p
16:29 47 @ 2,690.00p
16:29 1 @ 2,690.00p
16:29 12 @ 2,688.00p

Computacenter Key Personnel

CEO Michael J Norris