Computacenter PLC Pre-Close Trading Statement (7267V)
17 1월 2013 - 4:00PM
UK Regulatory
TIDMCCC
RNS Number : 7267V
Computacenter PLC
17 January 2013
Computacenter plc
Trading Update - 17 January 2013
Computacenter plc ("Computacenter"), the independent provider of
IT infrastructure services and solutions, is today holding an
investor and analyst conference call to provide an update on
trading for the year ended 31(st) December 2012 ("the year").
The Group will announce its results on 12(th) March 2013, which
are anticipated to be marginally ahead of the Board's expectations
for the year.
Group revenue for the year increased by 2% on a reported basis
and 6% in constant currency. These growth rates include the impact
of acquisitions during 2011, which, at a Group level, was minimal.
Group Services revenue increased by 8% on a reported basis and 12%
in constant currency. Group Supply Chain revenue was flat on a
reported basis with an increase of 4% in constant currency.
Focusing on the fourth quarter, we saw an increase in our Group
Services revenue of 6% in constant currency and an increase in
Group Supply Chain revenue of 5% in constant currency.
Cash position
At the end of the period, net cash excluding customer-specific
financing ("CSF") was GBP150 million [GBP136.8 million at 31(st)
December 2011]. Including CSF, net cash was GBP131 million
[GBP113.7 million at 31(st) December 2011]. The year-end cash
position continues to benefit by approximately GBP35 million [GBP45
million at 31(st) December 2011], from the extended credit facility
provided by one of our major suppliers. We are pleased with the
year-end cash position, particularly given some short term working
capital demands during the year relating to the ongoing business
growth and our, now completed move to a new warehousing facility in
France. We have also made significant capital investment in the
business, particularly in relation to new systems, logistics
facilities, service desk capability and remote management in order
to sustain our growth.
United Kingdom
UK revenue grew by 9% for the year, with Services revenue
increasing by 15% and Supply Chain revenue growing by 5%. In the
fourth quarter, Services revenue grew by 13% with a 9% growth in
Supply Chain. Services growth has remained strong throughout the
year, due to new contract wins and high rates of retention. We have
been particularly pleased with our successful business take-ons,
both from a customer service and financial perspective. As
previously explained, whilst Supply Chain margins have been
slightly weaker than a year ago, we are extremely pleased with
customer demand in the fourth quarter, which is encouraging for the
start of 2013.
Germany
German revenue, in constant currency, increased by 4% for the
year as a whole, with 8% growth in Services and 2% growth in Supply
Chain. In the fourth quarter, Services revenue in constant currency
decreased by 4%, whilst Supply Chain grew by 4%. The stronger
Supply Chain growth in the fourth quarter, relative to the rest of
the year, owes much to the extremely challenging comparisons,
particularly in quarter two. Our main focus in Germany in recent
months has been to stabilise our new contract take-ons, which
proved to be financially challenging in quarter two and
particularly quarter three of 2012. We are pleased to report that
our performance in the fourth quarter has significantly improved
and while much remains to be done, we anticipate further progress
in the months ahead.
France
In France, revenue in constant currency grew by 7%, with 18%
growth in Services revenue and 5% growth in Supply Chain revenue.
The Supply Chain growth rate is flattered somewhat by our
acquisition in 2011, but the Services growth has been unaffected.
As previously highlighted, there have been some challenges in 2012,
including our office move, relocation of our logistics facilities,
completion of our acquisition integration and coping with the
significant Services growth, which have impacted our margins.
However, these factors represent major steps forward in enhancing
Computacenter France's credibility in the market and in delivering
both a sustainable and acceptable return. In the second half of
2013, our largest French customer will go through a periodic
renewal, but this should be offset by improvements elsewhere.
Outlook
Computacenter UK has entered 2013 in good shape, with a strong
Services pipeline. We expect to make further progress in improving
the performance of our problem contracts in Germany, where we will
focus primarily on margin improvement. While it is too early to
make predictions about 2013, we enter the year optimistic that the
Group will make progress.
Computacenter will announce full year results for the year ended
31(st) December 2012 on Tuesday, 12(th) March 2013.
Enquiries:
Computacenter plc
Mike Norris, Chief Executive 01707 631601
Tony Conophy, Finance Director 01707 631515
Tessa Freeman, PR Manager 01707 631514
Tulchan Communications 020 735 34200
Christian Cowley and Rebecca Scott
This information is provided by RNS
The company news service from the London Stock Exchange
END
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