Investment bank IT spend deteriorating says Computacenter

Investment bank IT spend deteriorating says Computacenter

UK hardware distributor Computacenter says IT spending remains depressed and that conditions in certain sectors, most notably investment banking, have deteriorated since the second half of last year.

Despite the downturn, Computacenter says its performance in the first half of 2002 has been in line with expectations and is showing a marked improvement over the second half of 2001.

In a trading statment released this morning, the firm reports its investment in managed services is continuing to deliver double digit sales growth.

Management expectations for the remaining half of the year are unchanged. If current market conditions continue the firm says it is on track for a similar profit performance to last year with any growth in profit being dependent on an improvement in market conditions.

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