Computacenter (LSE:CCC), the independent technology and services provider, reported a record first-half performance for the six months to 30 June, with adjusted operating profit up 87.6% in constant currency.
Group gross profit rose 30.5%, driven by more than 70% revenue growth as North America's operating profit more than doubled year on year.
North America now accounts for 62% of Group adjusted operating profit before central costs, up from 44% a year earlier, fuelled by demand from hyperscale, neocloud and enterprise customers.
"Computacenter delivered a record first half, significantly ahead of our expectations at the start of the year," said chief executive Mike Norris, adding that North America drove growth "with hyperscale, neocloud and enterprise customers."
The UK saw accelerating momentum in Technology Sourcing, while Germany delivered a robust underlying result, though adjusted operating profit there was hit by earlier-than-expected costs from efficiency measures.
The company completed two North American acquisitions during the half, AgreeYa and Government Acquisitions (GAI), expanding professional services capability and opening access to the US federal government market.
The committed product order backlog reached a record £9.3bn at period end, up 323.2% year on year.
Adjusted net funds stood at £308.7m, and the interim dividend was raised 14.8% to 27.1p.
Computacenter now expects full-year adjusted pre-tax profit to be "significantly ahead of current market expectations" and no less than £380m, against a compiled analyst consensus of £340.9m.
News Intelligence what this means for the company
Computacenter raised its full-year adjusted pre-tax profit guidance to at least £380m, 11.5% above the prior analyst consensus of £340.9m, after North America operating profit more than doubled in the first half and now represents 62% of group adjusted operating profit. The upgrade is anchored in record order backlog of £9.3bn (up 323% year-on-year) and two North American acquisitions—AgreeYa and Government Acquisitions—that expand professional services and open access to the US federal government market.
The shift in profit mix toward North America (from 44% to 62% of adjusted operating profit) and the scale of order backlog growth materially strengthen visibility into near-term revenue conversion. However, Germany's adjusted operating profit was pressured by earlier-than-expected efficiency costs, signaling execution risk in that segment that investors should monitor against the North America momentum.
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