Shares in Computacenter are up 2% this morning following an update from the company on its revenue performance in the first half (to end June). The growth in the services business is very positive, as expected following Computacenter’s run of significant contract wins in late 2011 (see Computacenter: benefitting from infrastructure services fragmentation).
Computacenter’s total H1 revenues at constant currency were up 8% (or 4% as reported). Naturally the services business was the key driver, with 15% constant currency growth. There was even a slight acceleration in Q2 to 16% services growth, as more of the newly on-boarded contracts started to earn revenue. Meanwhile, “supply chain” (i.e. resale) fell by 2% in the half.
There are no numbers on profits today - we’ll have to wait for the full results in late August for that. But the profit outlook for the full-year, as revised downwards last month (see How Computacenter got contract indigestion), remains in place. So it looks, thankfully, as though there haven’t been any more nasty surprises as the company gets its new contracts up and running, despite what it describes as “significant start‐up challenges” in Germany.
We’ll bring HotViewsExtra subscribers further comment once we’ve heard from Computacenter management later this morning.