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UKHotViews©

 

Wednesday 13 June 2018

More on that 'Boring Award' for Computacenter

CCCAs I reported, yesterday (See - Computacenter gets a Boring Award) I had the pleasure of presenting a Holway Boring Award to Mike Norris at Computacenter in recognition of 10+ years of uninterrupted EPS growth.

I guess I should have explained (again) the origins of the Boring award as several readers have asked why Mike was so pleased to be described as ‘boring’. It all started back in 1992 when the FT asked for my views on Admiral’s financial performance. I described them as ‘boringly consistent’. But the FT reporter - Alan Cane - reported this as ‘Analyst Richard Holway describes Admiral as boring’. I then had several letters (well it was 1992!) to say ‘our performance is just as ‘boring’ as Admiral’. So I instigated an Award to any publicly quoted tech company with 10+ years of uninterrupted EPS growth. Only 6 other companies have been awarded it. And all have lost it. The last two holders were Sage and Capita.

Mike Norris seemed genuinely pleased to receive his award. Mike said in his acceptance speech that Computacenter got many awards. But, because the award was given so rarely (this is the 7th in 26th years), it really meant a lot. Norris greatly prizes consistent performance too. It is also the first time the Holway Award has been given to a reseller.

I’d really like to give more Boring Awards. But just as companies are about to get one - Micro Focus is a recent example - they get one bad year and have to start all over again. Triad tell me that they might be the first ever Boring Award holder to get the award back. We will see!

Posted by Richard Holway at '20:38'

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