Computacenter posts flat 2022 profit, sees ‘buoyant’ revenues this year

by | Mar 31, 2023

IT company Computacenter delivered flat annual profit but said revenues in the current year had been “extremely buoyant”.

The company on Friday reported pre-tax profit of £249m compared with £248m a year earlier. On an adjusted basis, earning were up 3.2% to £263m.

“Our challenges for the coming year include, to a small extent, technology sourcing margins, due to the fact it is the largest customers, which are dilutive to margins, that are spending most, and, more significantly, services margins due to price pressure in the market and salary inflation,” the company said.

“We have seen top-line revenue extremely buoyant so far this year and expect this trend to continue.”

“Supply constraints have eased materially and while some will always remain, we are now operating at close to normal market conditions. Aligned with this, our inventory levels started to fall at the start of the fourth quarter of last year and we expect further reduction this year, which will continue to decrease the working capital required in the business.”

Reporting by Frank Prenesti for Sharecast.com

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