Computacenter has turned in pre-tax profit for the first half of £26.2m, up 25%, on sales of £1.37bn, up 6%, following a strong product performance in its performance in mainland Europe, which masked the impact of continued weakness at its UK business.
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Although Computacenter's continental business ticked over nicely, the UK was the black sheep of the family during the first half, with services sales flat, up just 0.7%, and product sales down over 20%, prompted by a "shift in the spend profile" of major customers.
The integrator also pointed out that it enjoyed a particularly buoyant first half in 2010, which in its opinion made for a "more challenging comparison."
UK sales were down 16% to £547.3m, and adjusted profitability was down 8% to £16.7m. In its statement to the City this morning, Computacenter said: "Given the 16.0% decline in revenue, the decrease in profitability points to stability and increased resilience across the UK business as a whole."