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Computacenter Shares Hit Decade High After Lifting Profit Outlook on AI, US Demand
Summary
The IT services provider raised its full-year forecast, citing stronger-than-expected performance in North America and AI-related projects in the UK, sending its stock up over 10%.
Computacenter Plc (CCC.L) shares surged 11% to their highest level in at least a decade on Thursday after the company announced its full-year results are expected to be "comfortably ahead of market expectations." The upgraded outlook was driven by strong demand for its technology and services, particularly in North America and from AI-related projects.
Upgraded Financial Outlook
In a trading statement, Computacenter said its performance in the second quarter was "ahead of our expectations." The company now anticipates that its adjusted profit before tax for the first half of the year will surpass the £81.5 million reported in the same period last year.
While a specific figure for the first half was not disclosed, the company noted that its compiled analyst consensus for full-year 2026 adjusted profit before tax is £313.7 million. The statement reiterated that it expects to comfortably exceed this forecast.
Geographic and Segment Performance
The positive revision was largely fueled by "even stronger than expected volume growth" in its North American division across both Technology Sourcing and Professional Services. The company's UK business also delivered growth, which it attributed to new AI-related projects and a strong performance in Professional Services.
AdIn contrast, the company reported that its Professional Services business in Germany "remained subdued." This highlights a mixed performance across its key European markets.
Market Impact and Context
The market reacted positively to the news, with shares climbing more than 11% in early trading. The company also provided an update on its order book, stating that as of June 30, its committed product order backlog was "well ahead" of the £7.1 billion level from the prior year, indicating a healthy demand pipeline.
Despite the strong first-half performance, Computacenter noted it remains "mindful of a tougher comparative" in the second half of the year. However, it maintained its confidence in delivering results ahead of current market forecasts for the full year.