Computacenter pulled forward its full-year update, revealing stronger-than-expected performance. Gross invoiced income rose 31% year-over-year, or 32% at constant currency, surpassing forecasts by roughly 14%. Adjusted profit before tax is now pegged at a minimum of £270 million, ahead of consensus.

The U.K.-based IT services firm saw robust demand in the U.S., offsetting weakness in France. Cash flow also impressed, with year-end adjusted net funds near £600 million. That level equates to about 20% of the company’s market value, reflecting solid balance sheet strength and early customer payments.

Looking ahead, order intake remains strong, especially in the U.S. The committed backlog is “significantly” ahead of late 2024 and mid-2025 levels. Analysts see room for 2026 forecast upgrades. Jefferies reiterated a Buy rating, citing Computacenter as one of the sector’s cheapest plays with momentum.