Wednesday 31 July 2019 12:11 pm

Computacenter shares surge on bullish trading update

Computacenter shares jumped 11 per cent today after said it expected its 2019 financial year results would be “materially ahead of current market expectations”.

The computer services company said its adjusted profit before tax was marginally ahead of the first half of the previous year, which it said was a challenging comparison. 

Read more: Computacenter shares jump on strong 2019 outlook

It said that negative contract provisions in the second half of 2018 should make beating that performance in the second half of 2019 “significantly easier to achieve if this is not repeated”.

It said it expected its full-year 2019 performance to be ahead of market expectations in both profitability and earnings per share.

Shares rose 11 per cent to 1,514p.

Computacenter said its strong performance is being driven by its technology sourcing business and organic growth from its established business.

It said its recently acquired US business has underperformed expectations to date.