A drop in profits at IT services firm Computacenter PLC (LSE:CCC) helped push shares down by 11.2% today.
In the six months to June 30, pre-tax profits fell 6.4% to £107.8mln, while revenues rose 16.6% to £2.8bn.
The group said it remained on track to deliver profit growth for the year as a whole but cautioned “customers have become extremely sensitive about supply chain shortages, and as such require us to hold more inventory, impacting our balance sheet.”
Mike Norris, Chief Executive of Computacenter PLC (LSE:CCC), commented: “we remain on track to deliver our stated expectations of profit growth for the year as a whole.”
“With the exception of networking products where difficulties still remain, supply chain challenges have eased materially in the last 3 months.”
Rising print prices hurt London Security
Shares in London Security PLC (AIM:LSC) slumped 8% today after the group reported a 7.1% fall in pre-tax profits to £10.8mln from £12.2mln in the six months to June hit by rising print prices.
Revenues rose to £88.6mln but operating profit dipped 11% to £10.9mln as administrative expenses surged by 9.1% to £20.4mln while cash balances were broadly flat at £35.3mln.
London Security said "The period under review reflects the impact from upward input price pressures in all of the countries in which we operate.”
“These increases are being driven by worldwide supply chain disruption, energy and wage inflation following the war in Ukraine and the recovery from the coronavirus pandemic."