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Thursday 12 July 2018

Computacenter momentum continues with strong Q2

cccComputacenter released some very positive news this morning in the form of a trading statement for its second quarter.

The update is short but sweet outlining that the firm has seen “considerable progress” in adjusted profitability. Furthermore, it says it has experienced “even further progress” in adjusted earnings per share (EPS) following the buyback completed in February.

Regular readers will know that last month TechMarketView issued Computacenter with our highly coveted Boring Award, which recognises companies that have produced at least 10 years of uninterrupted EPS growth (see Computacenter gets a Boring Award!). Mike Norris (CEO) and Tony Conophy (CFO) have been at the helm for many years and both were delighted to receive an award that only a few have ever received.

Other good news in today’s update was that the Supply Chain business (particularly in Germany) saw “continued momentum”. There was no specific update on the Services business, which was up 2% in Q1 (see Computacenter updates on strong Q1). We’ll have to wait until 24th August for the full Q2/H1 results and more information on that part of the business.

Good execution on sales and a well-run business are clearly serving Computacenter very well, and the Board now believes its results for FY18 as a whole will be “comfortably in excess” of its previous expectations.

Interestingly, all the Boring Award holders have had very long-serving CEOs. All lost their Boring Awards soon after those CEOs stepped down. Perhaps a hint that Mike Norris and Tony Conophy should never leave!

Posted by Kate Hanaghan at '09:44' - Tagged: tradingupdate   profits  

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