TechMARK movers: Computacenter ahead of expectations
12th Jan 2010 15:39
Computer services provider Computacenter says that its 2009 figures will be materially ahead of consensus forecasts. Analysts had been expecting profits of around £48m. The cash pile is also much higher than expected at £87m. There are £500m of annual contracts. The VAT increase at the beginning
Read moreFTSE 250 movers: Resilient Galiform leads the way
12th Jan 2010 14:35
Joinery company Galiform has built good gains after it said it expects pre-tax profits for the year to come in at the top end of expectations as it continued to perform resiliently. IT infrastructure services provider Computacenter is higher after it said 2009 profit before tax and exceptional item
Read moreComputacenter to beat 2009 profit forecasts
12th Jan 2010 08:33
IT infrastructure services provider Computacenter said 2009 profit before tax and exceptional items is expected to beat market expectations of £48.4m after it cut costs and saw an increase in IT outsourcing. Service contracts increased 7% over the year and are worth over £500m a year, the group sai
Read moreComputacenter chairman buys
27th Nov 2009 15:42
Computacenter chairman Greg Lock has increased his stake in the computer services company the day after it acquired Germany-based IBM systems provider becom Informationssysteme. Lock, who is also chairman of Kofax and previously worked at IBM, has taken his stake to 350,000 shares with the purchas
Read moreShell non-exec takes first stake
9th Nov 2009 15:59
Hans Wijers, a non-executive director at the Anglo-Dutch oil giant Shell, has spent just less than £90,000 on a stake in the firm. He took 5,000 shares at €19.96 (1,789.81p), which represents his sole holding in the group. Shares in Shell have rallied strongly since earlier in the year, when they
Read moreTechMARK movers: Computercenter exits box shifting
27th Oct 2009 15:42
Computacenter has sold its trade distribution division to Ingram Micro. This prompted Panmure Gordon to upgrade Computacenter from a hold to a buy. The computer services business has completely withdrawn from trade distribution, which is effectively a box shifting business. This is a low margin op
Read moreComputacenter sells trade distribution unit
27th Oct 2009 08:33
IT Infrastructure services provider Computacenter has sold its trade distribution division CCD to Ingram Micro for an undisclosed sum. The disposal will reduce annualised revenue for the group by circa £80m and will have some negative impact on profits, but it is not sufficiently material to impa
Read moreTechMARK movers: Innovation up on contract win
16th Oct 2009 14:24
Innovation gained on news that it has signed a three year contract totalling £3.6m with one of the UK's largest friendly societies and mutual financial services providers. The contract covers a range of IT services including hosting that will be provided out of Innovation's UK data centres. The con
Read moreComputacenter optimistic despite sales fall
16th Oct 2009 07:56
IT Infrastructure services provider Computacenter posted an 8% decline in sales to £552m during the third quarter amid difficult economic conditions, but said recent contract wins and an encouraging pipeline for the future left it well positioned. 'Oour cost control measures have more than offset
Read moreFriday tips round-up: 888, Avis, IMI
28th Aug 2009 05:58
At 15 times 2009 forecast earnings, 888 is hardly cheap, given the uncertainty and problems in the consumer-facing operations. There is also a question over the dividend going forward. At some point 888 could certainly become an M&A target, which offers some potential upside, but at the moment there
Read moreLondon close: BAE dives after contract setback
27th Aug 2009 17:15
After dithering for much of the day London ended in arrears, falling for the second day in succession. A weak opening by Wall Street sent the Footsie into decline in the afternoon session and a late swoon by BAE Systems ensured there was no way back to the high ground for the blue-chip index. Shar
Read moreLondon afternoon: Back in the blue
27th Aug 2009 14:27
The London stock market continues its see-saw day, moving back into positive territory over the lunch-time session. Some encouragement was drawn from the CBI's distributive trades survey which found that the balance of retailers expecting a deterioration in their general business situation over the
Read moreLondon midday: Footsie sinks into the red
27th Aug 2009 12:08
Having enjoyed a brief sojourn above the 4900 level Footsie is now in negative territory, weighed down by poor performing financial stocks. Banks, insurers and properties are all being given the cold shoulder though Royal Bank of Scotland is an exception after Keefe, Bruyette & Woods lifted its pri
Read moreComputacenter profits up despite lower revenues
27th Aug 2009 08:04
Computacenter, the IT infrastructure services provider, saw profits rise for the half-year despite revenues slipping 2.2% due to the challenging economic conditions. The group said it made profits of £12m, up 9%, due to cost reduction, growth in contractual services and exiting from businesses that
Read moreFriday tips round-up: AB Foods, Premier Oil, Croda
10th Jul 2009 06:42
John Bason, finance director at AB Foods, says that Primark has changed the face of retailing on the high street. And who can disagree, after Primark posted a 21% jump in sales in the quarter to 20 June, especially with many competitors slipping into administration. There was similarly good news i
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