Computacenter annual profits grows as UK performances offset sluggish growth in Europe

12th Mar 2015 09:10

Information technology provider Computacenter PLC cited strong performances in its UK business as the driving factor behind an annual pre-tax profit increase.The FTSE 250 group said pre-tax profit rose 51.3% to £76.4m, as revenue climbed 1.4% to £3.11, even though it was hampered by currency headwinds and would have been up 4.2% on a constant currency basis.Computacenter said the continued economic improvement in the UK was one of the main drivers of growth, adding that UK revenue rose 10.2%, thanks to an 11% rise in supply chain revenue and to a 8.6% increase in services revenue.Performances in Europe were not as solid, with the group posting an 8.2% loss in revenue in its German business as the loss of customers weighed supply chain revenue, while revenue in France rose 6.4% but remained below the amount it produced in 2012.The company remained upbeat about its businesses in Europe, citing steady growth in revenue in Belgium and chain revenue growth in Germany returning to 16% in the fourth quarter as reasons for optimism.However, the FTSE 250 group said that while its fourth quarter performance in Germany was encouraging it is "too early to tell whether this is a substantial move in the right direction, or simply represents a good quarter".Computacenter shares were up 0.91% to 722.00p at 09:46 on Thursday.