Computacenter
announces preliminary results for 2004
Computacenter plc, the European IT infrastructure services provider, today announces preliminary results for the twelve months ended 31 December 2004.
Financial Highlights:
- Group revenues broadly unchanged at £2.46 billion (2003: £2.48 billion)
- Profit before tax* up 3.2% to £67.3 million (2003: £65.2 million)
- Earnings per share* up 2.0% to 25.5p (2003: 25p)
- Diluted earnings per share* increased by 2.0% to 25.1p (2003: 24.6p)
- Final dividend of 5.2p per share, total dividend up 7.1% to 7.5p (2003: 7.0p)
- Strong operating cash flow and balance sheet with net funds of £80.0 million at year-end
*excluding non-operating exceptional charges of £2.6 million relating to the disposal of the Austrian business and the dilution of the Biomni shareholding.
Operational Highlights:
- Strong UK Managed Services revenue growth of 16.6% (2003: 10.9%)
- Integration of Computacenter Germany on plan; operating profit up to £9.0 million
- New management in place in France and Germany
- Substantial investment in France to restore profitability
- As previously announced, HP renegotiation likely to have £10 million adverse impact on 2005 profit
Ron Sandler, Chairman of Computacenter plc, commented:
“2004 was a year of further good progress for Computacenter. In particular, our Managed Services revenues in the UK grew by 16.6% and we began to see clear evidence of success in our efforts to transfer our Managed Services best practices to Computacenter Germany.”
“We have intensified our focus on services growth and we are also seeking to extend our penetration of the small and medium-size business sector.”
“These developments, taken together with the prospects of growth in our German operations and the potential for recovery in France, give me confidence that the Group is well positioned to deliver attractive levels of earnings growth in the years ahead.”
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