Computacenter in line with expectations despite challenging French market

21st Jan 2015 14:48

IT services company Computacenter said its full-year results were in line with expectations despite to the strength of sterling against the euro during 2014.Total revenues increased by 4% in constant currency, though just by 1% on a reported basis, while services revenue rose 5% year-on-year.The UK market saw a jump in revenues of 10% year-on-year thanks to new contracts but in France, despite an increase in revenues by 6% year-on-year, the last quarter saw a decline of 3% in constant currency mainly from supply chain amid still-challenging general market conditions.In Germany, turnover declined by 3% in 2014. However, the last quarter was more positive and the German business entered the new year stronger than the year before.Computacenter said: "While we are encouraged by the continued momentum built up over the last few years in the UK and by the positive end to the year in Germany, it is far too early to make any predictions in respect of 2015."As a group, we continue to invest to improve our capability to deliver superior value to our customers and continue the growth we have seen over the last few years."Investec analysts were concerned with the challenges in France, but said the "significant restructuring" during the year should help the division to reduce losses in 2015."Assuming some improvement in France, our 2015 forecast looks very achievable," the broker added.Shares were up 2.03% to 653p on Wednesday at 15:19.