Computacenter says its full-year 2024 adjusted profit before tax (on a constant currency basis) will be “modestly behind last year” following a “softer end” to its Q3.
After a strong start to the quarter, Technology Sourcing (ie product resale) volumes in September were below Computacenter’s expectations, the LSE-listed giant said in a trading update this morning.
This reflects a “more cautious corporate spending environment and slower completion of committed product orders in North America”.
Computacenter broke the £10bn invoiced sales mark in 2023, which CEO Mike Norris attributed to a few big customers performing “very, very well”.
It also recorded its 19th consecutive annual bump in adjusted earnings per share last year.
Computacenter said it still expects to deliver a second half that is “comfortably ahead” of last year.
Its performance in Germany during Q3 met expectations, while its UK arm was “ahead of last year but below expectations”.
Services revenue during the quarter rose year on year, with strong revenue growth in professional services more than offsetting a decline in managed services.
Having the biggest services business of any major VAR will stand it in good stead for the future, Computacenter claimed.
“Looking further ahead, the combination of the strength of our integrated Technology Sourcing and Services model and our geographic diversity, gives us continued confidence in our long-term growth prospects,” it stated.