Computacenter expects profits to top £250m amid record order backlog
British IT firm Computacenter expects pre-tax profits to exceed £250m for the full year amid strong demand for products and services.
In a trading update published today, the company said that services revenue grew at its highest rate for 20 years in 2021 while a robust market helped to boost revenues by 23 per cent.
Computacenter revealed its order backlog is at an all time high with the company carrying a higher level of inventory than it would normally in order to meet high levels of customer demand and hedge against supply chain constraints.
“The robustness of the business throughout 2021 and particularly the strength of the fourth quarter gives us encouragement as we enter 2022,” said Computacenter in a trading update.
“While as always there is much to do, we enter 2022 growing in multiple geographies, across product and services, which means we feel the business is well placed for another year of progress,” the statement continued.
The Group’s adjusted net funds, excluding IFRS16 lease liabilities, finished “extremely strongly” according to Computacenter at around £241m.
Full results for the financial year which ended on 31 December 2021 are expected to be published in March. Shares have jumped by 1.11 per cent today.
Read more: Computacenter shares jump on pandemic-driven profit