Computacenter interim profits fall as revenues contract

9th Sep 2024 07:28

(Sharecast News) - Computer services firm Computacenter said on Monday that interim revenue and profits had fallen against a strong comparative period.

Computacenter said sales had dropped 11.6% in the six months ended 30 June to £3.1bn, while pre-tax profits sunk 31% to £84.0m and cash generated crashed from operations fell from £161.4m a year earlier to £33.9m.

However, the FTSE 250-listed group still opted to hike its interim dividend, raising its payout 3.1% to 23.3p.

Looking forward, Computacenter said it had made "an encouraging start to Q3" and expects "stronger momentum" in H2, underpinned by the size of its committed product order backlog and wider pipeline of opportunities.

"While we are mindful of the backdrop of continuing geopolitical and macro uncertainty across our markets we continue to expect to make progress in FY 2024 as a whole on a constant currency basis," said Computacenter.

As of 0910 BST, Computacenter shares were down 5.10% at 2,456.0p.

Reporting by Iain Gilbert at Sharecast.com