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Computacenter PLC on Tuesday said it enjoyed the ‘most profitable’ second half in its history, though a tough comparative in the first six months of 2024 weighed on its bottom line. Computacenter shares rose 11% to 2,602.00 pence each on Tuesday morning in London. The Hatfield, England-based technology services provider said pretax profit last year fell 10% to £244.6 million from £272.1 million in 2023. Revenue, however, edged up 0.6% to £6.96 billion from £6.92 billion. Administrative expenses were 2.0% higher at £798.9 million, compared to £783.3 million in 2023, and in 2024, Computacenter reported no repeat of the £5.3 million gain it made in 2023 from ‘other income’ related to an acquisition of a subsidiary. ‘Computacenter delivered a solid performance in 2024 as a whole in the context of a tough first half comparative and a more challenging IT market. Encouragingly, the second half was the most profitable in our history and was derived from our highest number of major customers. We executed well in North America, achieving another record year while Germany performed robustly. Technology Sourcing momentum improved through the year and we were particularly pleased with Professional Service’s double-digit growth,’ Chief Executive Officer Mike Norris said. ‘Cash generation was strong, providing us with the capacity to continue to invest in leading systems and to deliver enhanced shareholder returns through the completion of a £200 million [share] buyback.’ Computa in October completed a £200 million share buyback programme to reduce its share capital. It didn’t announce a new share buyback programme on Tuesday. Computacenter maintained its final dividend at 47.4 pence per share, with its total dividend for 2024 raised by 1.0% as a result to 70.7p from 70.0p. Looking ahead, it said: ‘We exited 2024 in a robust position with a committed product order backlog which is significantly ahead of our position in December 2023, as well as at the end of June 2024, with all regions ahead. The size of the projects we are currently delivering gives us good momentum at the start of 2025. Looking to 2025 as a whole, we remain mindful of the uncertain macroeconomic and political environment. ‘In North America, following a strong performance in 2024, we continue to be excited by the growth opportunities we see ahead. We have started the year positively and overall, we expect to make progress in FY 2025, with earnings per share benefiting further from the impact of the share buyback.’ Computacenter said it remained excited by the pace of innovation and growth in demand for its technology. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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