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Computacenter FY Pre-tax Profit Down

Computacenter plc (CCC.L), a provider of IT infrastructure and services that enables users and their business, reported that its profit before tax for the year ended 31 December 2018 was 108.1 million pounds, a decrease of 3.2 per cent from last year's 111.7 million pounds.

The Group's adjusted profit before tax increased by 11.3 per cent to 118.2 million pounds, and by 11.3 per cent in constant currency.

The statutory profit for the year decreased 0.5 per cent to 80.9 million pounds from 81.3 million pounds in the prior year. The adjusted profit for the year increased by 9.8 per cent to 87.4 million pounds, and by 9.9 per cent in constant currency.

Adjusted earnings per share increased from 65.1 pence in 2017 to 75.7 pence in 2018, due to the increased earnings generated by the business and a lower weighted average number of shares, as a result of the Tender Offer buyback of ordinary shares completed in February 2018. The statutory earnings per share increased from 66.5 pence in 2017 to 70.1 pence in 2018.

The difference between statutory profit before tax and adjusted1 profit before tax relates to the Group's reported net loss of 10.1 million pounds (2017: net gain of 5.5 million pounds primarily from disposal of investment property) from exceptional and other adjusting items principally related to the acquisition of FusionStorm.

The Group's revenues increased by 14.7 per cent or 559.2 million pounds to 4.35 billion pounds from last year, and were 14.2 per cent higher in constant currency.

The company said, "As we look out further into the future, we remain enthusiastic about our customers' desire to enhance the digital experience, grow their network capacity, modernise their infrastructure and enhance their competitiveness, by investing in technology."

The Board proposed a final dividend of 21.6 pence per share. The interim dividend paid on 12 October 2018 was 8.7 pence per share. Together with the final dividend, this brings the total ordinary dividend for 2018 to 30.3 pence per share, representing a 16.1 per cent increase on the 2017 total dividend per share of 26.1 pence.

Subject to the approval of shareholders at our Annual General Meeting on 16 May 2019, the proposed dividend will be paid on Friday 28 June 2019. The dividend record date is set as Friday 31 May 2019 and the shares will be marked ex-dividend on Thursday 30 May 2019.

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