RNS Number : 0690G
  Computacenter PLC
  17 October 2008
   

    Interim Management Statement 
    17 October 2008


    Computacenter plc the independent IT services provider today publishes its Interim Management Statement based on unaudited financial
information for the third quarter of 2008.

    Financial Performance

    The third quarter of 2008 continued the positive trends seen in the second quarter with Group revenue ahead of last year. Group revenue
growth at 6% benefited from the strength of the euro against sterling.  At constant currency revenue was flat compared to last year. 

    UK sales in the quarter were up by 2% to �310.0M and this is now unaffected by any acquisition growth. UK operating profit also saw an
improvement over the same period in 2007. 

    German revenue in the quarter increased by 4% in local currency and by 18% in sterling to �205.0M. Due to continued improvement in
Services margin, the before tax profit in Germany also continued to increase.

    Whilst revenue in France declined 19% in local currency, the benefits of a higher services mix and superior product margins resulted in
a small profit in the period compared with a small loss in the equivalent period last year.

    We are pleased with the performance of the business in Q3. While we have not been immune from current economic difficulties it has to
date been isolated to a few specific customers and has not had a material effect on the business as a whole. In particular, the Group has
incurred a bad debt of �1.2M following the bankruptcy of a major financial services client. However it is expected there may be other
offsetting unrelated gains during Q4 to mitigate this impact.

    Group revenue to date in Q4 is in line with Q4 last year.

    Financial Position

    At the end of the quarter we had net borrowings of �15.2M [�29.7M at 30 June 2008] before customer specific financing. Including CSF the
net debt was �87.0M [�95.9M at 30 June 2008]. CSF at �71.8M at 30 September 2008 is pass through financing where the Group acts as a lessor
and is repaid through the proceeds of lease repayments embedded in invoice values to the relevant customers, as opposed to the generation of
trading profits and the resultant cash flow. However, Computacenter retains the credit risk on these customers.


    Group Outlook

    While the fourth quarter is always the most important period of the year for us and there is much uncertainty in the marketplace, we
take a great deal of encouragement and confidence from the performance of the business throughout the last two quarters. 


    Enquiries:

    Computacenter plc
    Mike Norris, Chief Executive                    01707 631601 
    Tony Conophy, Finance Director            01707 631515 

    Tulchan Communications                      020 7353 4200
    Andrew Grant
    Stephen Malthouse

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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