Computacenter Preliminary Announcement
Computacenter plc, the European IT infrastructure services provider, today announces preliminary results for the twelve months ended 31 December 2003.
Financial Highlights:
- Group revenues up 28.8% to £2.48 billion (2002: £1.93 billion) including acquisitions
- Profit before tax up 18.3% to £65.2 million (2002: £55.1 million)
- Earnings per share up 22.5% to 25.0p (2002: 20.4p)
- Final dividend of 5.0p per share, total dividend up 20.7% to 7.0p (2002: 5.8p)
- Strong operating cashflow and balance sheet with net funds of £49.9 million at year end
Operational Highlights:
- UK Managed Services revenue growth of 10.9%
- Encouraging pipeline of Managed Services contracts and XP roll-outs
- Significant product price decline, driven by weakness of the US dollar
- Integration of CC CompuNet in Germany on plan; first year operating profit of £8.7 million
- Computacenter France turn-around programme underway in the second half
- New pan-European management structure to assist transfer of best practice
Ron Sandler, Chairman of Computacenter plc, commented:
“These are excellent results. Our key priorities in 2003 were the further development of our services activities and the integration of CC CompuNet in Germany. We made good progress with both.
“The improvement in our product volumes in 2003, although clearly stimulated by the large price declines, provides some evidence that our markets are beginning to recover from the downturn of recent years. The growing demand for XP roll-outs that we experienced as the year progressed is a further encouraging sign. Whilst much depends upon the pace and sustainability of the broader economic recovery in Europe, there are grounds for optimism that market conditions may now improve.”
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