Computacenter PLC (LSE:CCC) said it expects adjusted pre-tax profit for 2021 to come in slightly above £250mln on the back of strong revenue growth, in spite of supply shortages and the strong pound.
Performance in the fourth quarter beat expectations and revenue for the year to 31 December 2021 surged 27% at constant currencies, with revenue from the Services business growing at its highest rate in 20 years, the company said in a trading update.
It entered 2022 with its product order backlog at an all-time high and considerably larger than a year ago, due to a strong market coupled with product supply constraints, which means customers are ordering earlier.
Inventory levels are higher than normal to support customers during times of product shortages. It expects inventory to return to normal levels as supply constraints ease.
"While as always there is much to do, we enter 2022 growing in multiple geographies, across product and services, which means we feel the business is well placed for another year of progress," Computacenter said.
It finished the year with adjusted net funds of £241mln.