REVEALED: Tory donor’s firm that landed £240m school laptop contracts agrees 400% jump in shareholder payout13th October 2021
Computacenter, the huge IT firm which landed over £240m in contracts from the Government to supply laptops to vulnerable children during the pandemic, has increased dividends payout to shareholders by an eye watering 402% in 2020.
Computacenter founder and major Tory donor Sir Philip Hulme holds over 9 million shares in the firm – landing him personally a dividend payout of circa £4.7million.
Sir Phillip Hulme and his wife have donated £110,000 to the Conservative Party, including a £100,000 donation to the Tories during the build-up to the 2019 election.
According to the firm’s 2020 annual report, an astronomical sum of £268m has been set aside for dividend payouts to its shareholders. The latest Computacenter accounts boast of ‘exceptional growth’ and a 37% increase in revenue from public sector clients throughout the pandemic.
The huge deals awarded to Computacenter by the Department of Education were part of the Government’s ‘get help with technology’ scheme. The DfE’s flagship programme was besieged with problems and delays. In some cases laptops containing malware and failing to meet the minimum standards set out by the Department for Education were delivered to vulnerable kids. Concerns were also raised by IT experts over the huge charges for the below par devices.
Computacenter’s profits increased by 48.5% during the pandemic.
Computacenter isn’t the only politically connected firm to have done well during the pandemic. Last week we revealed that profits jumped 500% at Uniserve after the firm landed ‘VIP’ PPE contracts
In previous weeks it was revealed that Ayanda Capital’s profit increased by 2,600%, even though it supplied facemasks the NHS couldn’t use.
While families across the UK face a grim winter of fuel, food and energy rises, the Covid-19 goldrush continues for those fortunate enough to have political connections. People deserve better.
Computacenter has been approached for comment.
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