Additional start-up costs in Germany hit Computacenter profit
Aug 31 (Reuters) - Computacenter Plc reported a nearly 10 percent fall in first-half adjusted profit, hurt by additional contract start-up costs in key market Germany but the IT company said it was on track to meet its revised expectations for the year.
The company, which provides IT infrastructure services and also advises customers on IT strategy, said it expects topline growth in IT services outside the United Kingdown to slow.
Computacenter said in June that it expected an additional 7 million pounds in start-up costs in its key Germany market, where it has won several new contracts. But last month it said it was on track to meet the challenges.
The company, which gets most of its business from Eurozone countries, said adjusted profit before tax fell to 24 million pounds ($37.95 million) for the six months ended June 30 from 26.6 million pounds a year earlier.
Revenue, including acquisitions, was up 4.2 percent at 1.42 billion pounds.
The company raised interim dividend to 5 pence per share from 4.5 pence last year.
Computercenter shares, which have risen about 8 percent since the start of the year, closed at 369.9 pence on the London Stock Exchange on Thursday.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.