Computacenter sees 2014 results in line but hard to predict 2015

 
Joseph Millis
Computacenter said its revenue for 2014 rose one per cent on a reported basis
IT services firm Computacenter said yesterday that its results for 2014 were expected to be in-line with its previous expectations, despite the strength of sterling against the euro.

Computacenter said that, while it was encouraged by the continued momentum it had built up in the UK and its positive end of the year in Germany, it was “far too early to make any predictions in respect of 2015”.

Computacenter said its revenue for 2014 rose one per cent on a reported basis, although up four per cent at constant currency, boosted by a strong fourth quarter.

In Britain, revenue was up 10 per cent in 2014, with services revenue up nine per cent and supply chain revenue up 11 per cent. The company secured a number of new contracts during the year that it said would assist its revenue growth in 2015 and beyond.

However, it noted that a significant reduction in one particular contract would hamper growth in services revenue during the year.

Growth in its supply chain revenue was “a little more modest” in its second half compared to the first half of 2014, but Computacenter said it was pleased with its overall growth in the UK business during the year.

Computacenter said it had made progress in reducing working capital tied up in its French business, but noted that there remained “much to do in this area, including taking sustained action to lower levels of overdue debtors”.