Computacenter reported a record first half of 2026, with revenue increasing 71.6% to £6.85 billion and adjusted profit before tax rising 87% as strong demand for digital and AI infrastructure drove rapid growth, particularly in North America.
Gross invoiced income increased 57.6% to £8.93 billion, including Technology Sourcing gross invoiced income of £7.99 billion. Technology Sourcing revenue increased 85.9% to £5.91 billion, while Services revenue increased 15.6% to £935.1 million.
Gross profit increased 30.5% to £657.9 million.
Adjusted operating profit increased 86.5% to £153.1 million, while adjusted profit before tax increased 87% to £152.4 million. Adjusted diluted EPS increased 94.1% to 101.9 pence.
On a statutory basis, operating profit increased 94.2% to £143.3 million and profit before tax increased 94.8% to £142.6 million. Diluted EPS more than doubled to 94.7 pence.
Computacenter’s expansion was led by North America, where investment in AI infrastructure, hyperscale data centers, neoclouds and enterprise technology produced another record period.
North American revenue increased 84.1% to £3.84 billion, while adjusted operating profit increased 141.3% to £118.5 million. In constant currency, adjusted operating profit increased 148.4%.
North America accounted for 62% of group adjusted operating profit before central costs, up from 44% in the comparable period.
Computacenter said buoyant data center demand, including AI-related infrastructure, helped generate new customer wins and market share gains. The company’s capabilities span high-performance computing, networking, low-latency storage, data center infrastructure and software components.
The UK also delivered strong growth, particularly in Technology Sourcing, where revenue more than tripled as Computacenter expanded work on AI-related infrastructure projects as well as enterprise and public-sector programs.
Germany produced what the company described as a robust underlying performance despite a challenging economic environment, while Western Europe’s operating loss narrowed.
Services revenue increased 9% organically, including a 23.9% increase in Professional Services, partly offset by a 4.5% decline in Managed Services.
Computacenter is continuing to emphasize Professional Services as an important future source of profitable growth while selectively exiting non-core Managed Services activities, including certain data center hosting contracts.
One of the most significant indicators of future demand was the company’s product order book.
Computacenter ended June with a record £9.3 billion committed product order backlog, up 323.2% year over year and 29.5% from the end of 2025 in constant currency. The increase was driven primarily by Technology Sourcing demand in North America and the UK.
The number of customers generating more than £1 million of annual gross profit increased by a net 18 to 216 major customers.
Computacenter also completed two North American acquisitions during the first half as it expands both its services capabilities and addressable markets.
The company acquired AgreeYa at an enterprise value of $120 million, expanding its Professional Services capabilities across North America and India.
It also acquired Government Acquisitions Inc., or GAI, for up to $92 million, giving Computacenter access to the U.S. federal government technology market. GAI is a value-added reseller with more than 35 years of experience and was named NVIDIA’s U.S. Public Sector Partner of the Year for 2025.
Computacenter ended the first half with £308.7 million of adjusted net funds, despite completing the two acquisitions. The company has returned approximately £1.1 billion to shareholders since 2013 through dividends and special capital returns.
The board increased the interim dividend 14.8% to 27.1 pence per share, above the level implied by Computacenter’s historical interim dividend policy.
Working capital increased substantially as Computacenter prepared large customer orders. Inventory reached £1.26 billion at June 30, compared with £316.8 million a year earlier, with management saying the inventory was almost entirely linked to committed customer orders rather than speculative stock.
Free cash outflow improved to £138.9 million from £203.8 million in the prior-year period.
Computacenter is also increasing investment in its internal technology infrastructure. Group-wide investment rose to £26.6 million, while expected 2026 capital expenditures of approximately £70 million to £75 million include development of a new automated Integration Center in Atlanta scheduled to open in 2027 and design work for a cloud-based ERP upgrade.
Following a strong beginning to the second half and further growth in the committed order backlog, Computacenter raised its full-year 2026 outlook.
The company now expects adjusted profit before tax to be no less than £380 million, significantly above the previous market consensus of £340.9 million.
Computacenter said continuing demand for digital infrastructure, particularly in North America, provides a strong foundation for continued growth through the remainder of the year.
KEY QUOTE:
“Computacenter delivered a record first half, significantly ahead of our expectations at the start of the year, as we converted strong and growing customer demand for digital infrastructure into substantial revenue, gross profit and operating profit growth.
North America was again the standout performer, with operating profit more than doubling and the region now representing over 60% of Group adjusted operating profit, driven by our growth with hyperscale, neocloud and enterprise customers. It was also pleasing to see accelerating momentum in our UK business, whilst the underlying performance in Germany was robust.
While we continue to invest organically to secure future growth, we also completed the acquisitions of AgreeYa and GAI. These additions expand our professional services capability, broaden our North American customer proposition and provide access to the US federal government market.
We were delighted that the hard work and dedication of all our people, as reflected in the strength and consistency of the progress we have made, was recognised in our promotion to the FTSE 100 in June.
Following a strong start to the second half and a further increase in our committed product order backlog, we now expect adjusted PBT for full-year 2026 to be significantly ahead of current market expectations and to be no less than £380m.”
Mike Norris, Chief Executive Officer of Computacenter
