Computacenter plc (LON:CCC), a leading independent technology and services provider, has provided a trading update for the half year ended 30 June 2025, based on preliminary unaudited financial information.
Trading update
For the half we delivered strong revenue growth largely driven by growth in high-volume Technology Sourcing business, resulting in good growth in gross profit. This reflected an excellent performance in North America and further growth in the UK. However, we experienced softer trading in Germany and France during the second quarter driven by temporary lower levels of public sector activity following political changes, with the performance in France significantly weaker than last year. During the half we also increased investment in Group-wide initiatives as we continue to upgrade our systems. As a result, we now expect H1 2025 adjusted1 operating profit to be slightly ahead of last year (H1 2024: £81.1m) including a c.£2m adverse currency translation impact.
Following the completion of the share buyback programme in the second half of 2024, net interest income is expected to be over £6m lower than H1 2024, whilst earnings per share is enhanced. We retain a strong balance sheet with adjusted net funds of c.£278m at 30 June 2025.
Looking ahead, we are encouraged by our committed product order backlog at 30 June 2025 which remains healthy across all geographies meaning we are well positioned for the second half. We have started July strongly with certain large orders in North America and the UK which were expected to complete during the first half, moving into Q3.
While the broader geopolitical and macro uncertainty is expected to persist, we anticipate some recovery in public sector activity in Germany in the second half while France is expected to remain challenging. Overall, we continue to expect full year adjusted1 operating profit in FY 2025 to be ahead of the prior year including an adverse c.£4m currency translation impact with adjusted1 profit before tax expected to be at a similar level to the prior year due to the anticipated reduction in net finance income following the share buyback.
Computacenter will publish our half year results for the six months to 30 June 2025 on 9 September 2025.
Footnotes:
1 Adjusted operating profit and adjusted profit before tax are stated before exceptional and other adjusting items, including gains or losses on business acquisitions and disposals and amortisation of acquired intangibles as Management does not consider these items when reviewing the underlying performance of the Segment or the Group as a whole.
