Computacenter is expecting its 2019 financials to come "well ahead" of expectations, according to a bullish trading update published on Tuesday morning.
Giving an unscheduled update of the year so far until 30 November, Computacenter claims that revenues and profits have significantly exceeded its 2018 year-to-date performance on a like for like basis.
As a result, Computacenter expects its profits for full year 2019 to outperform market expectations of £136.2m (€161.9m) in adjusted profits before tax.
The reseller's share price spiked by eight per cent overnight following the update.
The growth has stemmed from "established" operations, Computacenter claims. Its acquired US business, which struggled to gather momentum in the first half of the year, positively contributed to Computacenter's financial performance in the second half, and is now performing in line with expectations, it claims.
"Consequently, following an early review of November's performance, Computacenter's Board believe that the Group's trading result for the financial year 2019 will be well ahead of current market1 expectations in both profitability and earnings per share," the firm said in a filing on the stock exchange.
"Computacenter's board acknowledge, as is the case every year, that there is still a significant amount to do in December, which is always our busiest month of the year, however visibility on this critical month's outturn is starting to improve."
Computacenter gave a Q3 trading update at the end of October. The firm said it expected its financials to come well ahead of expectations, with the UK, Germany and France growing strongly and its US business gaining traction.
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