Information technology infrastructure specialist Computacenter PLC (LON:CCC) had exchange rate movements to thank for revenue growth in the third quarter.
Revenue for the group as a whole in the third quarter was up 2% to £735mln from £721mln the year before, helped by favourable exchange rate movements; on a constant currency (CC) basis, revenue was down 4%.
Revenue in the first nine months of the year was up 4% on a year earlier, but down 2% on a CC basis.
Third quarter Services revenue rose 4% year-on-year (YoY) on a reported basis, but was down 1% on a CC basis, resulting in year-to-date growth of 4% YoY – but down 1% on a CC basis.
Supply chain revenue was up 1% on a reported basis but down 5% in CC, bringing the year-to-date position to a growth of 4% and a reduction of 2%, respectively.
The UK, which accounted for £314mln of revenue in the third quarter, saw revenue decline 4% YoY, but the supply chain side of the business returned to growth, with revenue rising 2% from the year before.
German revenue for the third quarter decreased by 2% in constant currency and increased by 8% on an as reported basis to £325mln.
French revenue decreased by 12% in constant currency and by 3% on an as reported basis to £83 million.
The company was sitting on a pile of cash at the end of September, with net funds of £96.7mln, up by around £29mln from a year earlier.
“While much remains to be done in 2016 in the all-important fourth quarter, the performance in the third quarter has re-enforced our confidence for the year as a whole,” the group told investors.
“Prospects for 2017 and beyond, particularly driven by the increased adoption of the digital workplace, are encouraging across all our geographies,” it added.
Shares in Computacenter, down 13% so far this year, rose 0.7% to 736.5p in early deals.