Computacenter interm statement upbeat despite hit from banking collapse

by Simon Quicke Computacenter has provided some cheer for those looking forsigns of robustness in the IT sector with a fairly upbeat interim managementstatement despite revealing the impact of the collapse of one major financialcuctomer. The corporate reseller reported a revenue increase of 6% fo

by Simon Quicke

Computacenter has provided some cheer for those looking forsigns of robustness in the IT sector with a fairly upbeat interim managementstatement despite revealing the impact of the collapse of one major financialcuctomer.

 

The corporate reseller reported a revenue increase of 6% forits Q3 helped by the strength of the euro against the pound. But at constantcurrency levels revenue would have remained flat.

 

UK saleswere up 2% to £310m and the business in Germanybenefited from more demand for services, while France saw a drop of 19% inrevenue.

 

In a statement a reference was made to the difficulties thatthe reseller had experienced with certain customers, which includes LehmanBrother’s, the financial institution that is likely to have been the company responsible for a £1.2m loss,but remained relatively upbeat.

 

 “While we have not been immune from current economicdifficulties it has to date been isolated to a few specific customers and hasnot had a material effect on the business as a whole. In particular, the Group hasincurred a bad debt of £1.2m following the bankruptcy of a major financialservices client. However it is expected there may be other offsetting unrelatedgains during Q4 to mitigate this impact,” said the statement.


It added that it expected Q4 to be in line with last year’sperformance: "While the fourth quarter is always the most important period of the year for us and there is much uncertainty in the marketplace, we take a great deal of encouragement and confidence from the performance of the business throughout the last two quarters."

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