Tanusha - Fotolia
Investors in Computacenter will have to wait a bit longer before the UK performance matches and then exceeds what was delivered last year.
The channel giant has released a Q1 trading update for the three months ended 31 March and has warned that it has been a slow start to the year in the UK.
overall pereformance in the UK in Q1 was down by 4% to £348.5m, compared to £361.3m in the same period last year. The main culprit was the services business, which declined by 5%. Supply chain revenue was also down y-o-y by 2%.
The firm had expected the services numbers to be down because of a large contract that had ended and had already warned investors that was going to have an impact. There had also been a large amount of new business signed up in the first half of last year and that set a pretty high bar to match.
"We expect our comparative performance against 2015 to improve as we go through 2016", stated the firm in its trading update.
For the whole Group revenue for Q1 improved by 2% to £730.2m with services down by 1% and supply chain improving by the same margin.
The performance in France also saw weakness with revenue down by 8% to £88.7m. Supply chain revenue was down by 5% and the services side saw a 9% slide.
"Our French business has continued the improved pre-tax profit performance seen last year and while much work remains to be done, significant progress is being achieved," stated the firm.
Germany was the shining star delivering £281.2m in revenue, a 7% improvement on Q1 2015. Services climbed by 7% and supply chain was up by 8%. The growth was supported by major contract wins sealed last year and the expectation is that there is more good news to come out of the German business over the course of this year.
"Our momentum in Germany and pleasing performance compared to the past in France, looks set to continue. While the UK will have a more challenging year particularly in the first half as previously indicated, the new business pipeline is beginning to build," concluded the trading statement.