Revenues at British tech giant Computacenter have passed 拢4 billion for the first time.
The FTSE 250 firm, which provides IT infrastructure services and solutions to large corporate and public sector organisations, grew total revenues by 拢559 million, a jump of 14.7 per cent.
Pre-tax profits excluding the acquisition of US firm FusionStorm climbed 11.3 per cent to 拢118.2m,
The public company, which employs around 15,000 people worldwide and is headquartered in Hatfield, Hertfordshire, also saw excellent revenue and profit growth in the UK of 9.7 per cent and 12 per cent respectively.
“2018 was a record year in revenue, adjusted operating profit and adjusted diluted earnings per share for the group,鈥� said CEO Mike Norris.
鈥淲e have also laid foundations for further growth in the years ahead. We have invested in the physical infrastructure that enables our technology sourcing, increased our services capability and expanded our geographical footprint through acquisitions.鈥�
It marks 10 consecutive years of growth in adjusted earnings per share while the company returned 拢100m of cash to shareholders.
鈥淲e reduced the number of shares in circulation by 6.97 per cent, through a 鈥榬eturn of value tender鈥� offer of 拢100m,鈥� Norris continued.
鈥淓ven after these substantial investments, Computacenter finished the year with a strong balance sheet and a cash surplus, which underpins our confidence in the future.
“While the technology sourcing success of last year creates a difficult comparison in 2019, particularly in the first half, lower services margins in 2018 give us a significant opportunity to improve. We also expect a profit contribution from our acquired business in the USA.
“As we look out further into the future, we remain enthusiastic about our customers’ desire to enhance the digital experience, grow their network capacity, modernise their infrastructure and enhance their competitiveness, by investing in technology.”
Chairman Greg Lock has stepped down after 11 years in the role and will be succeeded by Peter Ryan.
Computacenter, which launched direct operations in the USA two years ago and has aspirations to grow that market, said 2019 will see the integration of FusionStorm into its offering.