Picture of a graph
Computacenter expects profit of £41.2m for 2007

Computacenter predicts £41.2m profit

A clutch of late contracts has helped to raise forecasts for the services group

Written by Neon Kelly

Services provider Computacenter is forecasting pre-tax profit of £41.2m for financial 2007.

Net borrowings are expected to be in the region of £30m, including £35m spent on acquisitions and a £12m share repurchasing programme, says the pre-close trading statement published today.

Advertisement

Computacenter is showings signs of optimism ahead of what may be challenging times, said Ovum analyst Kate Hanaghan.

"The company fared better in the second half of 2007 than the equivalent period in 2006," said Hanaghan.

"Towards the end of the year Computacenter won a number of contracts, meaning its services contract base is now bigger than a year ago."

Despite the repercussions of the US credit crunch, Computacenter says it is seeing more investments from the City than in the previous year. But such optimism should be taken with a pinch of salt, according to Hanaghan.

"While Computacenter so far has not felt the pinch, that does not mean it is not bracing itself for what might turn out to be an increasingly difficult year for the industry."

Tags:

Comments

White papers

Related jobs

More Accounting jobs

Spotlight

Ted Bell, Abel and Cole FD

Profile: Ted Bell, FD of Abel and Cole

The combination of the online shopping boom and a hunger...

Top 30 Accounting Networks and Associations 2008

The race to become the biggest firm on the planet...

Barack Obama Accountancy Age cover October 2008

Obama: asset or liability?

What an Obama presidency could mean for you

Find your next job

Find your next job
Salary Checker

Job of the week

More finance jobs

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Your next job

Have your say

Will proposed tax cuts help to stimulate the economy?
Yes
No

Advertisement

Search white papers

Search white papers

Advertisement