Computacenter PLC H1 2019 Trading Statement (2791H)
July 31 2019 - 2:01AM
UK Regulatory
TIDMCCC
RNS Number : 2791H
Computacenter PLC
31 July 2019
Computacenter plc
Incorporated in England
Registration number: 03110569
LEI: 549300XSXUZ1I19DB105
ISIN: GB00BV9FP302
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF
ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) No. 596/2014.
FOR IMMEDIATE RELEASE
Computacenter plc
Trading Update - 31(st) July 2019
Computacenter plc ("Computacenter" or the "Group"), a leading
independent technology partner trusted by large corporate and
public sector organisations, today publishes a trading update,
based on unaudited financial information, for the period to 30 June
2019.
Following a strong start to the year, as indicated in our Q1
2019 Trading Update on 26 April 2019, the Group has seen continued
momentum within the Technology Sourcing business throughout the
second quarter of 2019, which has resulted in the Group's adjusted
profit before tax being marginally ahead of the first half of last
year, which, as noted previously, was a challenging comparison.
The strong 2019 performance is coming from Computacenter's
established businesses. In fact, the acquired business in the US
has underperformed our expectations to date. Although it remains
profitable and the recent US performance has been encouraging, it
has been immaterial to the Group and more than compensated by the
strong organic performance from the rest of Computacenter.
The negative impact in 2018 due to contract provisions was
substantially incurred in the second half of that year, which makes
the comparative in the second half of 2019 significantly easier to
achieve if this is not repeated. The Group considers that, based on
the current information, the provisions on certain contracts will
reduce significantly in the second half of 2019 and this forms part
of a recent encouraging reforecast of the second half of the year
reviewed by the Board.
Consequently, Computacenter's Board believe that the Group's
trading result for the financial year 2019 will be materially ahead
of current market(1) expectations in both profitability and
earnings per share.
Computacenter's Board acknowledge, as is the case every year,
that there is still a significant amount to do in the second half
of the year and we look forward to giving more detail at the
announcement of the Group's Interim Results on Friday 23 August
2019.
Enquiries:
Computacenter plc
Mike Norris, Chief
Executive 01707 631601
Tony Conophy, Finance
Director 01707 631515
Tulchan Communications
020 7353
James Macey White 4200
Matt Low
(1) Market expectations as at 30 July 2019 are assessed as being
GBP127.5 million of adjusted profit before tax. Market expectations
are assessed by the Group as the average of the consensus
indications given by the investment analysts that regularly provide
guidance and analysis on the Group's future performance to the
market.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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