|
Pre-Close Trading Update
10th July, 2007. Computacenter is today holding an Investor
and Analyst conference call to provide an update on
trading for the six months to 30 June 2007.
Group operating profit for H1 2007, prior to the amortisation
of acquired intangibles, is expected to be in line with
the same period last year. Interest income will be below
last year due to the £75 million share buyback,
which took place on 3 July 2006 and the spend of approximately
£35 million on acquisitions. Net borrowings at
the period end prior to customer-specific financing
are expected to be circa £20 million.
In the UK, a disappointing performance was delivered
in H1 in both Products and Services. The Product Division,
whilst showing some recovery in Q2 compared to Q1, has
traded below 2006 levels. The UK Services Division has
suffered price erosion on renewals and the loss of some
key contracts in 2006, as previously explained. However,
this was offset by stronger performances in Germany
and France.
Computacenter Germany has performed well with record
first half profits in H1 2007. We expect this improvement
to continue throughout the year with market conditions
remaining strong.
The good progress in France in Q1 has continued through
the second quarter. The performance of the business
continues to improve, although it is still loss-making.
The Board also announces that Ron Sandler, currently
Executive Chairman, will with immediate effect become
non-executive Chairman of Computacenter.
Computacenter will report its Interim results on 11
September 2007.
|