Good morning - Tuesday's Agenda is now complete!
Companies Reporting
Name (Mkt Cap)RNSSummaryOur view (Author)Computacenter (LON:CCC) (£2.4bn)Full Year Results“Solid” in context of a challenging IT market. Dec 2024 order backlog significantly ahead of Dec 2023.AMBER/GREEN (Roland holds)After a weak H1 24, CCC delivered a record H2 and has strong momentum heading into 2025. 2024 results show a 24% ROCE but uncharacteristic drop in profits. Earnings expectations are said to be positive for 2025, but have already been downgraded several times. Without visibility on updated estimates, I’ve moderated my view slightly to reflect the 20% share price rise since January.Trustpilot (LON:TRST) (£1.1bn)Full Year Results2024: rev +18%. 2025: expecting high teens growth, adj. EBITDA slightly ahead of market expectations.AMBER/GREEN (Graham)Yet another earnings upgrade is in the works with the company benefiting from operational leverage as revenues scale up. I’m still very excited about this but the growth ramp is not so rapid that I can afford to drop all valuation concerns.Bytes Technology (LON:BYIT) (£999m)FY TU“Strong” FY Feb 2025. Double digit growth in metrics. Operating profit growth in mid to high teens.Harworth (LON:HWG) (£541m)Full Year ResultsOfficial...
