Salem Radio Network News Saturday, May 21, 2022

Science

UK’s Computacenter keeping inventory high amid product shortages

(Reuters) -British IT services firm Computacenter said on Monday the group was carrying higher inventory than usual to tackle product shortages and expects inventory levels to return to normal once supply constraints ease.

Technology companies globally are tackling tight chip supplies as the pandemic disrupted global availability amid a surge in demand.

Computacenter, which provides IT strategy services and manages technology infrastructure, said it experienced a strong fourth quarter and the highest annual revenue growth at its services business in two decades.

The company said its product order backlog was at an all-time high, with customers ordering earlier to counter product shortages.

Computacenter expects adjusted profit before tax for the year ended Dec. 31 to be slightly more than 250 million pounds ($338.55 million). The company reported an annual profit of 200.5 million pounds in 2020.

($1 = 0.7384 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shounak Dasgupta)

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