Computacenter expects further growth in 2011

10th Mar 2011 18:23

IT services provider Computacenter reported 2010 figures in line with expectations and management expects further improvement this year.Ongoing revenues grew 11% to £2.68bn, while underlying pre-tax profit was 22% ahead at £66.1m. The total dividend rose from 11p a share to 13.2p a share. Net cash trebled to £111m at the end of 2010. If financing supplied to customers is included the net cash figure increased from £86.4m to £139.4m. Computacenter grew its business in all of its geographic markets. France returned to profit for the first time since 2002.Computacenter is investing in enterprise software across its business and it will not be making any significant acquisitions until this investment is complete. A small French acquisition was announced earlier in the year. Panmure Gordon says that it is reviewing its 2011 forecasts because 2010 gross profit was lower than it expected. The broker has already increased its 2011 dividend forecast from 13.5p a share to 14.3p a share.