The Channel logo


By | Paul Kunert 24th May 2013 15:18

Computacenter: We've so much cash we're GIVING AWAY MEELLIONS

One-off 'return of value' to lucky shareholders

One of Europe's largest resellers, London-based Computacenter, has helped investors get the Bank Holiday weekend off to a good start by confirming plans to return £75m to them.

Computacenter said in a statement to the City that it is proposing a one-off "return of value" to shareholders of 48.7 pence per ordinary share.

The £75m total is equivalent to roughly 10.8 per cent of Computacenter's market cap.

"The cash generative nature of Computacenter's business has resulted in a net cash balance in excess of our current needs," said chief executive Mike Norris.

He added it was now able to make the "second significant one-off return" to shareholders and still keep the balance sheet sufficient to cater for working capital needs and to fund growth plans.

Group revenues edged up 2.2 per cent in calendar 2012 to £2.91bn but pre-tax profits fell to £64.8m, down from £72.1m in 2011. It ended the year with £126.7m of cash and cash equivalents.

Computacenter had a strong start to the year in the UK with Q1 revenues up six per cent to £294.9m, but its operations in France and Germany were more challenged. ®

alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


Suit-and-tie-wearing man tries to meditate, take deep breaths in faux yoga pose. Photo by Shutterstock
Emotional intelligence, not tech skills, is the way to woo suits
League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe