Computacenter, a recent entrant to the FTSE 100 index, has seen its shares reach a record high, driven by its significant role in supplying data center equipment for artificial intelligence systems. The Hertfordshire-based company reported a 95 percent increase in first-half profits, reaching £143 million, and now anticipates annual profits of at least £380 million, surpassing earlier forecasts of approximately £340 million.
This surge in performance has bolstered the fortunes of its founders, Peter Ogden and Philip Hulme, whose combined stakes are now valued at nearly £2 billion. Ogden holds a £1.4 billion stake, while Hulme possesses £415 million. The company's stock has more than doubled in value over the past year, bringing its market valuation to around £5.5 billion.
First-half revenues rose by 71.6 percent to £6.9 billion. North America emerged as the company's strongest performing region, accounting for 62 percent of group adjusted operating profit before central costs. This growth is attributed to accelerated investment in AI infrastructure by hyperscale, neocloud, and enterprise clients. The UK market also showed robust performance, with revenues more than doubling to £1.51 billion and adjusted operating profit jumping 52.6 percent to £26.4 million, primarily due to AI-related data center projects.
Computacenter's Technology Sourcing division saw revenues more than triple, driven by its success in delivering AI infrastructure projects and supported by growth in enterprise and public sector clients. By the end of June, the company had a record committed product order backlog of £9.3 billion, a 323 percent increase year-on-year, with orders continuing to rise post-period.
Chief executive Mike Norris described the first half as a record performance, exceeding expectations due to strong customer demand for digital infrastructure. He affirmed that the company has no immediate plans to switch its stock market listing to New York, despite its substantial presence in the US market. Norris stated that such a move would be 'a shame' given the limited number of technology companies listed in the UK, though it remains under review for shareholders' benefit.
Founded in 1981, Computacenter evolved from an IT services contractor to a significant player in data center hardware and services. Its expansion into the US market and subsequent listing on the London Stock Exchange in 1998 preceded its entry into the FTSE 100 in June 2026. A key contract secured in 2022 with a major customer, believed to be Meta, for its 'Metaverse' project, accelerated the company's focus on data center infrastructure.