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.
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."