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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Computacenter plc    CCC   GB00BV9FP302

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Computacenter : says FY results to be above expectations; shares rise

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11/14/2017 | 09:47am CET

British IT services company Computacenter Plc (>> Computacenter plc) said its trading results for the year would be "comfortably in excess" of its previous expectations as it saw a strong start to the fourth quarter and a growing pipeline for the rest of the year.

British IT services company Computacenter Plc (>> Computacenter plc) said its trading results for the year would be "comfortably in excess" of its previous expectations as it saw a strong start to the fourth quarter and a growing pipeline for the rest of the year.

Computacenter shares jumped 8.2 percent to 1069 pence as of 0823 GMT on the London Stock Exchange on Tuesday.

The company said it would delay return of 100 million pounds to shareholders through a tender offer to January from its earlier plan of fourth quarter.

"Due to the increases in profit expectations as a result of strong trading performance during 2017, the board now believes it would be inappropriate to launch a tender offer in the fourth quarter of 2017," Computacenter said in a statement.

The company, which provides computer services to customers including Domino's Pizza (>> Domino's Pizza Group PLC.) and department chain John Lewis Plc [JLPLC.UL], earlier said it had remained on track for a "record performance."

Computacenter, which had been hurt by weakness in its domestic market as the UK prepared to leave the European Union, earlier said it did not see any "major impact" on its day-to-day business activities other than a drop in short-term demand for its products and services and a change in forex rates.

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Gopakumar Warrier)

Stocks treated in this article : Domino's Pizza Group PLC., Computacenter plc
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Financials ( GBP)
Sales 2017 3 645 M
EBIT 2017 98,9 M
Net income 2017 77,9 M
Finance 2017 107 M
Yield 2017 2,31%
P/E ratio 2017 16,52
P/E ratio 2018 16,43
EV / Sales 2017 0,33x
EV / Sales 2018 0,31x
Capitalization 1 296 M
Chart COMPUTACENTER PLC
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Technical analysis trends COMPUTACENTER PLC
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 11,2  GBP
Spread / Average Target 5,7%
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Managers
NameTitle
Michael John Norris Chief Executive Officer & Executive Director
Gregory Lock Non-Executive Chairman
Christopher Webb Group Chief Operating Officer
Francis Anthony Conophy Director-Group Finance & Executive Director
Nigel Filer Director- Media, Technology & Capital Markets
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