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Computacenter expects profits 'materially ahead' of market expectations

By BFN News | 09:25 AM | Wednesday 31 July, 2019


Computacenter upgraded its outlook on full-year performance following a 'strong' start to the year and expectations for improved performance in the second half of the year. The company said it expected performance for the financial year 2019 would be 'materially ahead of current market expectations in both profitability and earnings per share.' The upbeat outlook comes on expectations for easier comparison in the second half of the year compared to a year earlier, as the provisions of certain contracts, which had stifled performance a year earlier, would reduce int eh second half of 2019. '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,' Computacentre said. '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,' it added. The group's interim results are slated for Friday 23 August 2019. At 9:25am: (LON:CCC) Computacenter PLC share price was +150p at 1510p Story provided by StockMarketWire.com

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