Computacenter profits fall, Trustpilot posts sold growth
By Josh White
Date: Tuesday 18 Mar 2025
(Sharecast News) - London open
The FTSE 100 is expected to open 24 points higher on Tuesday, having closed up 0.56% on Monday at 8,680.29.
Stocks to watch
IT firm Computacenter posted a fall in annual profits amid an uncertain macroeconomic environment and softer market conditions in the UK, offset by stronger performances in the US and Germany. Pre-tax profit for calendar 2024 declined by 10% to £244.6m. Gross invoiced income fell 1.6% to £9.9bn.
Trustpilot reported a strong financial and operational performance in its final results on Tuesday, with revenue rising 18% in constant currency to $211m for 2024, and adjusted EBITDA increasing 55% to $24m. The FTSE 250 firm said bookings grew 21% to $239m, supported by simplified pricing, product innovation and improved customer retention. Looking ahead, the company said it expected high-teens revenue growth in 2025 and adjusted EBITDA slightly ahead of market expectations.
STEM-focused recruiter SThree has held on to its full-year guidance despite a weak first quarter with double-digit declines in fees for both contract and permanent positions. Group net fees were 15% lower year-on-year in the three months to 28 February, which the company said was consistent with its performance in the fourth quarter, with the bigger contract division (84% of net fees) shrinking 15% and permanent placements down 13%. "As we look ahead, business leaders are continuing to navigate an evolving macro-economic backdrop which is weighing on investment decisions," said chief executive Timo Lehne.
Newspaper round-up
A record 50% more raw sewage was discharged into rivers in England by Thames Water last year compared with the previous 12 months, data seen by the Guardian reveals. Thames, the largest of the privatised water companies, which is teetering on the verge of collapse with debts of £19bn, was responsible for almost 300,000 hours of raw sewage pouring into waterways in 2024 from its ageing sewage works, according to the data. This compares with 196,414 hours of raw effluent dumped in 2023. - Guardian
Ikea will be bringing its mix of meatballs, lampshades and kitchen planning to London's Oxford Street from 1 May, when the world's largest furniture retailer finally opens its store 18 months late. The company said its three-floor outlet, in the former Topshop base, would house a 130-seat Swedish deli and showrooms, as well as offering one-to-one design consultations. - Guardian
Audi plans to cut 7,500 jobs as the German car maker scrambles to find money to fund the "challenging transition to electric mobility". The manufacturer, which is owned by Volkswagen, on Monday announced plans to axe around 8pc of its workforce by 2029. The job cuts are part of a series of measures aimed at saving €1bn (£840m) a year. - Telegraph
One of America's biggest defence start-ups is planning to open a drone factory in the UK. Anduril Industries' new facility is expected to serve as the European base of the company, which has a $1 billion factory in Ohio. The company designs and builds autonomous systems and weapons for the military and other government agencies. It is part of a new wave of companies building systems based on artificial intelligence technologies. - The Times
The Financial Ombudsman Service faces a Treasury investigation into whether the complaints adjudication body was overstepping its powers and landing the industry with huge compensation bills. The review will look at concerns over the service acting at times like a "quasi-regulator" and also whether it was wrongly applying today's standards to practices that took place in the past, the Treasury said. It explicitly added that the review would look at "practices that have grown up over time on compensation". - The Times
US close
US stocks put in decent gains on Monday despite weaker-than-expected economic data, as investors went bargain-hunting following a mass sell-off over the past two weeks.
The Dow gained 1.1% with just one of its 30 constituents closing in the red; the S&P 500 rose 1.0%; while the Nasdaq finished 0.7% higher.
Markets have rebounded strongly since the S&P 500 entered correction territory on Thursday - the index still remains down around 7% over the month - though analysts at Deutsche Bank reckon the recent sell-off has further to run.
Investors largely shrugged off weak economic data on Monday, with US retail sales rising by just 0.2% in February, according to data from the Census Bureau, while January's decline was revised down to 1.2% (from -0.9% initially) - the biggest drop in more than two years.
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