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Computacenter recovering from slow start

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Date: Thursday 28 Aug 2008

LONDON (ShareCast) - IT services provider Computacenter recovered from a weak start to the year but still saw interim profits dip, as the company’s investment programme remains in full swing.

Helped by the strength of the euro, group revenues rose 7.8%, or 1.4% on a constant currency basis, to £1.25bn in the first half of 2008 from £1.16bn a year earlier.

Pre-tax profit dipped 14.2% to £11m from £12.4m, due in part to a £0.4m increase in interest charges relating to the £20.8m spent on the company’s share repurchase scheme.

Profit performance in the UK and France improved in the second quarter over the first half performance, while Germany performed above 2007 levels throughout the period.

The interim dividend has been increased from 2.5p to 2.7p.

“Computacenter has made significant investments in the past three years in solutions and processes designed specifically to improve the cost-effectiveness and efficiency of our customers' IT infrastructures,” said Mike Norris, chief executive of Computacenter.

“We believe these investments, together with our continuing investment in the medium-sized business sector, position us well in a more difficult economic climate,” Norris added.

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