Computacenter PLC Pre-Close Trading Statement (4605C)
22 1월 2018 - 4:00PM
UK Regulatory
TIDMCCC
RNS Number : 4605C
Computacenter PLC
22 January 2018
Computacenter plc
Incorporated in England
Registration number: 03110569
LEI: 549300XSXUZ1I19DB105
ISIN: GB00BV9FP302
Computacenter plc
Pre-Close Trading Update - 22 January 2018
Computacenter plc (the "Group"), the independent provider of IT
infrastructure services that enables users and their business, is
today providing an update on trading based on preliminary unaudited
financial information for the year ended 31 December 2017 ("the
year").
Group Financial Performance
The adjusted pre-tax results for the year are anticipated to be
ahead of the Board's expectations as at the time of our trading
update on 14 November 2017 and which have been upgraded a number of
times throughout 2017.
Group revenue for the year increased by GBP408 million or 12% in
constant currency, and by GBP548 million or 17% on an as reported
basis. Group Services revenue increased by 7% in constant currency
and by 11% on an as reported basis. Group Supply Chain revenue
increased by 14% in constant currency and by 19% on an as reported
basis.
UK revenue increased by 9% for the year, with Services revenue
increasing by 6% and Supply Chain revenue increasing by 10%. The
fourth quarter was particularly strong with Services revenue up 9%,
Supply Chain up 18% with an overall revenue growth of 16%, the best
fourth quarter growth we have seen in the UK for a number of
years.
German revenue increased by 15% for the year overall with
Services revenue increasing by 7% and Supply Chain revenue
increasing by 19%, all in constant currency.
French revenue increased by 13% for the year overall with
Services revenue increasing by 15% and Supply Chain revenue
increasing by 12%, all in constant currency.
Group Financial Position
At the end of 2017, Group net funds, which are usually at their
highest at the end of the financial year, were GBP191.2 million, an
increase on last year of GBP44.6 million in constant currency.
As reported in the Company's 2016 annual report and accounts,
the Group's net funds benefit from extended credit terms with a
major supplier and have done so for approximately 9 years. The
estimated benefit of these extended terms to the Group's net funds
was GBP54.9 million at the end of the year (2016: GBP69.1 million).
These extended terms will be returning closer to standard terms
during the first half of 2018 resulting in a subsequent reduction
in the Group's net funds of circa GBP27.5 million.
Group Outlook
2017 was clearly a year of great progress for the Group as
customers continue to invest in new IT infrastructure, including
digitalisation, to enhance their businesses and deliver enhanced
user and customer experiences. While we believe the positive
momentum in the market is set to continue, there will be a number
of one-off costs and investments within the Group in 2018 that will
not repeat in 2019, which will hold back the enhancement of
profitability in 2018. While it is still very early in 2018, the
Board expect the year to be one of stable profitability.
In line with our announcement on 14 November 2017, the company
will tomorrow launch a tender offer to return value of
approximately GBP100 million, details of which will be released
tomorrow morning Tuesday 23 January 2018.
We look forward to publishing our final results for the year
ended 31 December 2017 on Tuesday 13 March 2018.
Enquiries:
Computacenter
plc
Mike Norris, Chief
Executive 01707 631601
Tony Conophy,
Finance Director 01707 631515
Tulchan Communications
020 7353
James Macey White 4200
Conference Call:
There will be a conference call for analysts and investors this
morning at 09:00. For dial-in details, please contact Charlotte
Horner at Tulchan Communications at
Computacenter@tulchangroup.com
Appendix:
Change vs 2016 Q4 Change Q4 Change FY Change FY Change
As Reported* Constant As Reported Constant
Currency** * Currency
**
------------------ -------------- ------------ ------------- ----------
Supply Chain
Revenue
UK 18% 18% 10% 10%
Germany 22% 11% 29% 19%
France 28% 17% 21% 12%
Group 21% 14% 19% 14%
------------------- -------------- ------------ ------------- ----------
Services Revenue
UK 9% 9% 6% 6%
Germany 16% 6% 14% 7%
France 15% 6% 23% 15%
Group 12% 7% 11% 7%
------------------- -------------- ------------ ------------- ----------
Total Revenue
UK 15% 16% 9% 9%
Germany 20% 10% 24% 15%
France 26% 15% 21% 13%
Group 18% 12% 17% 12%
------------------- -------------- ------------ ------------- ----------
* Change vs 2016 Q4/FY revenues
reported at 2016 exchange rates
** Change vs 2016 Q4/FY revenues
reported at 2017 exchange rates
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 22, 2018 02:00 ET (07:00 GMT)
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