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Compuatcenter flies in Q3 despite Government slowdown

Microscope contributor

Computacenter (CC) had a storming third quarter in all its geographies after an improving commercial - particularly financial services - business more than offset declines in UK public sector spending.

Europe's largest services-based reseller posted sales rises on both the product and services fronts but warned that while it is on track to meet its yearly forecast, growth in the final period of 2010 will be more muted.

In an interim trading statement, CC said group revenues grew 16% to £621m, resulting in a year-to-date sales rise of 10%, while like-for-like products and service rose 17% and 9% respectively.

"We have seen an improved rate of growth in the third quarter in both products and services in all countries [where] we operate compared to the first half of 2010," said Europe's largest reseller.

The UK operation grew 20% - 15% for the nine months - with the anticipated strong growth in services weighing in at 16% due to managed services deals that started last quarter, while product sales climbed 22%.

"Our UK product business continued its positive first half growth...in spite of a Government expenditure decline, which has been more than compensated by growth rates elsewhere, particularly financial services," said CC.

The mood on the continent was also more buoyant; the becom acquisition contributed to a 19% rise in turnover in Germany including a 25% and 9% rise in product and services, while in France sales went up 14% in local currency.

CC expected services growth to remain at a similar level in Q4 and it was confident to meet 2010 sale targets but warned that overall "It is unlikely that we will achieve the same level of growth".


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