Computacenter Plc (LON:CCC) a leading independent technology and services provider, has announced results for the six months ended 30 June 2026.
Financial summary
| £m unless otherwise specified | H1 2026 | H1 2025 | Change | Change in constant currency1 |
| Technology Sourcing gross invoiced income | 7,992.4 | 4,856.5 | 64.6% | 66.2% |
| Services revenue | 935.1 | 808.8 | 15.6% | 13.9% |
| Gross invoiced income1 | 8,927.5 | 5,665.3 | 57.6% | 58.6% |
| Technology Sourcing revenue | 5,910.1 | 3,180.0 | 85.9% | 88.8% |
| Services revenue | 935.1 | 808.8 | 15.6% | 13.9% |
| Revenue | 6,845.2 | 3,988.8 | 71.6% | 73.3% |
| Gross profit | 657.9 | 504.2 | 30.5% | 30.5% |
| Gross margin (%) | 9.6% | 12.6% | (303bps) | |
| Adjusted1 operating profit | 153.1 | 82.1 | 86.5% | 87.6% |
| Adjusted1 profit before tax | 152.4 | 81.5 | 87.0% | 87.7% |
| Adjusted1 diluted earnings per share (p) | 101.9 | 52.5 | 94.1% | |
| Dividend per share (p) | 27.1 | 23.6 | 14.8% | |
| Net cash outflow from operating activities | (82.6) | (165.8) | nm | |
| Adjusted1 net funds | 308.7 | 278.0 | 11.0% | |
| Statutory measures | H1 2026 | H1 2025 | Change | |
| Operating profit | 143.3 | 73.8 | 94.2% | |
| Profit before tax | 142.6 | 73.2 | 94.8% | |
| Diluted earnings per share (p) | 94.7 | 46.5 | 103.7% | |
| Net funds | 133.0 | 115.4 | 15.3% |
Mike Norris, Chief Executive Officer, commented:
“Computacenter delivered a record first half, significantly ahead of our expectations at the start of the year, as we converted strong and growing customer demand for digital infrastructure into substantial revenue, gross profit and operating profit growth.
North America was again the standout performer, with operating profit more than doubling and the region now representing over 60% of Group adjusted operating profit, driven by our growth with hyperscale, neocloud and enterprise customers. It was also pleasing to see accelerating momentum in our UK business, whilst the underlying performance in Germany was robust.
While we continue to invest organically to secure future growth, we also completed the acquisitions of AgreeYa and GAI. These additions expand our professional services capability, broaden our North American customer proposition and provide access to the US federal government market.
We were delighted that the hard work and dedication of all our people, as reflected in the strength and consistency of the progress we have made, was recognised in our promotion to the FTSE 100 in June.
Following a strong start to the second half and a further increase in our committed product order backlog, we now expect adjusted PBT for full-year 2026 to be significantly ahead of current market expectations and to be no less than £380m.”
Strong financial progress
· Excellent Group gross invoiced income and revenue performance, with growth in both Technology Sourcing and Services
· Gross profit increased by 30.5% and good operating leverage saw adjusted operating profit up 87.6% in constant currency, driven by excellent growth in North America and accelerating momentum in the UK
· Germany delivered a robust underlying performance, with adjusted operating profit impacted by earlier than-expected recognition of costs to improve efficiency
· Gross margin decline primarily reflects targeted rapid growth of high-volume Technology Sourcing activity in North America and the UK
· Strong balance sheet, with adjusted net funds of £308.7m
Good strategic and operational momentum
· Growth in the number of customers generating over £1m of gross profit p.a., with a net 18 added across the Group since 30 June 2025, bringing the total number of major customers to 216 (H1 2025: 198)
· North America – record performance driven by growth in hyperscale, neocloud and enterprise customers, driving further market share gains, with operating profits up 148.4% year on year in constant currency; North America accounted for 62% of adjusted operating profit (before central costs) (H1 2025: 44%)
· UK – strong performance driven by momentum in Technology Sourcing; Germany – robust underlying performance with public sector in Professional Services remaining relatively subdued; Western Europe – reduced operating loss
· 9.0% organic growth in Services revenue driven by strong Professional Services (23.9% on an organic basis), with North America and UK growing strongly and Germany stable, partly offset by decline in Managed Services revenue
· Record product order backlog at 30 June 2026 of £9.3bn, up 323.2% year on year and up 29.5% since year end in constant currency, driven by continued strong Technology Sourcing order intake in North America and the UK
Balanced capital allocation
· Computacenter continues to apply a disciplined capital allocation framework: investing organically, pursuing targeted acquisitions that expand addressable markets, and returning surplus capital to shareholders:
· £26.6m of Group-wide investments (H1 2025: £21.9m) to improve capabilities, enhance productivity and secure future growth
· Completion of two acquisitions with performance and integration on track:
o AgreeYa (US$120m enterprise value), growing professional services capability in North America and India
o GAI (up to US$92m enterprise value), a Value-Added Reseller (‘VAR’) focused on the US federal government market, providing a new growth opportunity
· Interim dividend increased by 14.8% to 27.1p
Outlook
· It ended the half in a strong position with a record committed product order backlog of £9.3bn and growing demand for digital infrastructure, particularly in North America
· Following a strong start to the second half and a further increase in the committed product order backlog since the end of June, particularly in North America, it now expects adjusted PBT for full-year 2026 to be significantly ahead of current market expectations2 and to be no less than £380m
1 Alternative performance measures (APMs) and other terms are used throughout this announcement. These are defined in full in the Appendix to this announcement.
2 Company compiled analyst consensus for FY 2026 adjusted profit before tax is £340.9m with a range of £332.0m to £354.0m.
