Computacenter set to double profit as AI demand surges

TL;DR:

• Computacenter expects first-half adjusted pre-tax profit to roughly double year-on-year to around £163m.
• UK Technology Sourcing grew strongly on AI-related projects, while North America benefited from hyperscale customer demand.
• Its committed product backlog sits well above the £7.1bn recorded at the end of December, pointing to sustained momentum.

Computacenter, one of the UK’s largest listed technology and services providers, expects first-half adjusted pre-tax profit to roughly double year-on-year to around £163m, after a second quarter that beat its own expectations. The upgrade offers a rare piece of hard UK corporate evidence that AI demand is translating into revenue rather than remaining a line in the capital-expenditure forecasts of American hyperscalers.

Where the growth is coming from

The company said North America delivered stronger-than-expected volume growth with hyperscale customers, lifting both its Technology Sourcing and Professional Services arms. The UK produced “excellent growth” in Technology Sourcing, explicitly including further AI-related projects, alongside strong Professional Services growth. Germany saw solid product growth despite subdued services demand. The forward indicator is the order book: Computacenter’s committed product backlog at 30 June stood well ahead of the £7.1bn position recorded at the end of December, reflecting strong order intake through the half and suggesting the momentum is not a one-off quarter.

Looking forward

For UK investors hunting a domestic AI winner beyond the chipmakers and cloud giants, Computacenter is a reminder that the build-out flows through the supply chain, the firms sourcing, integrating and running the hardware. That contrasts with the more cautionary UK signals of recent days, from the Bank of England warning that heavy AI bets pose a financial-stability risk to questions over whether Britain can power its planned AI growth zones. Computacenter’s results sit on the other side of that ledger: concrete demand converting into profit today. The open question is whether the backlog reflects durable enterprise adoption or a front-loaded infrastructure cycle that eventually cools.