Computacenter reported a 26.8 per cent revenue growth to £3.5 billion in the first half of 2023.
While gross income climbed 29.9 per cent to £5.1 billion for the first six months of 2023.
The LSE-listed company said it continued significant programme of strategic initiative expenditure to underpin its long-term resilience, competitiveness and growth with an additional expected spend of circa £13 million in FY23 compared to FY22.
First half results also showed improvement in cash as inventory levels reduced towards normal levels. Inventory fell by £217.2 million since the highpoint in Q3 2022.
The unsettled economic conditions still impacted Computacenter’s business in the UK during the first half of 2023.
A company statement said: “Businesses and organisations have experienced delays in project implementations and have been deferring critical technology investment decisions, resulting in the market softening as the year has progressed.”
Professional services and managed services in the UK dropped by 9.5 per cent and three per cent respectively.
The reseller and services outfit however reported an 8.7 per cent growth in gross invoiced income in the UK during the first half of the year.
Computacenter CEO Mike Norris said as the industry returned to normal supply conditions his outfit had seen a significant generation of cash as our inventory has reduced in the first half of 2023.
“We expect this to continue in the second half which will leave Computacenter with a strong balance sheet by the end of the year. We are pleased with our progress towards both our short-term financial objectives and our long-term aspirations.”
Group revenue hit £6.5 billion growing 28.5 per cent, which Norris called “an astonishingly strong finish” to the year.
