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Computacenter on course to meet full year guidance after first quarter beats expectations

Computacenter said: "Slightly more challenging economic conditions throughout our major markets do not seem to be deterring our customers from investing in technology"

Computacenter
Revenue and profit in the first quarter grew compared to a year ago

Computacenter PLC (LON:CCC) said it is on track to meet full year guidance after a stronger-than-expected first quarter performance.

The FTSE-250 IT supplier said revenue and profit in the three months to the end of March were ahead of the year-ago period on a like-for-like basis, beating its initial guidance.

READ: Computacenter rises as revenues top £4bn in 2018

In the UK, revenue grew despite a large one-off software licence deal in the first quarter of 2018.

In Germany, one of the company’s largest customers pulled back on buying cloud infrastructure but this was offset by business from other clients.

Computacenter said France experienced one of its “best quarters ever” while smaller European countries experienced “positive momentum”.

Revenue in the US gained, excluding the acquisition of IT firm FusionStorm last October.

“Slightly more challenging economic conditions throughout our major markets do not seem to be deterring our customers from investing in technology as they seek to enhance the competitiveness of their businesses,” the group said.

“While it is early in the year and much work remains to be done, the board's confidence in the year's performance has increased after the first quarter and we remain firmly on track to deliver on our expectations for the year as a whole.”

Shares surged 14% to 1,230p in morning trading. 

Quick facts: Computacenter plc

Price: 1427 GBX

LSE:CCC
Market: LSE
Market Cap: £1.63 billion
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