Growth quickens at Computacenter

15th Oct 2010 07:05

Information technology services firm Computacenter saw growth rates quicken in the third quarter.Revenue grew to £621m in the third quarter, up 13% on the year before or 16% on a constant currency basis.Like for like (LFL) growth, which excludes acquisitions and disposals, was 14%, or 17% on a constant currency basis, dragging year to date growth rates up to 8% and 11% respectively.Growth rates improved in both products and services and in all areas in which the group operates. The fourth quarter of 2009 was a particularly strong one for the group so it does not expect to achieve the same levels of growth it achieved in the third quarter. Nevertheless, based on performance in the year to date the board is confident of meeting its expectations for the full year.Cash at the end of the third quarter, excluding customer specific financing, improved to about £100m, compared to £56m at the end of September 2009.