Computacenter plc Interim Results Announcement 07/09/04

Computacenter plc, the European IT infrastructure services provider, today announces interim results for the six months ended 30 June 2004.

Financial Highlights:

• Group revenues unchanged at £1.25 billion
• Profit before tax up 3.7% to £33.2 million (2003: £32.0 million)
• Earnings per share up 6.8% to 12.6p (2003: 11.8p)
• Interim dividend increased to 2.3p per share (2003: 2.0p)
• Strong operating cashflow and balance sheet with net cash of £62.4 million
  
  

Operational Highlights:

• UK Managed Services revenue growth of 18.7% (2003: 12.3%)
• Encouraging pipeline of Managed Services opportunities
• Further product price decline, though not as severe as 2003 as a whole
• Continuing programme of operational improvements in Germany and France

Ron Sandler, Chairman of Computacenter plc, commented:

“Computacenter continued to make steady progress in the first half of 2004. Our Managed Services revenues in the UK grew by 18.7% in the period, and we secured a number of significant new contracts.

“The outlook for the full year remains in line with market expectations. Looking further ahead, the core UK franchise remains healthy, with continued growth prospects in Managed Services. We are working hard to deliver the turnaround of our European operations. With a strong balance sheet and a cash generative business, we have confidence in our future prospects.”