Computacenter PLC on Friday lowered its final dividend but reported earnings growth in 2022.

The Hatfield, England-based computer services firm said its pretax profit in 2022 ticked up 0.4% to £249.0 million from £248.0 million in 2021. Revenue increased by 29% to £6.47 billion from £5.03 billion in 2021.

Total administrative expenses grew 13% to £691.8 million from £612.0 million. Computacenter noted that internal IT investment put pressure on profit.

Computacenter said its basic earnings per share fell 1.2% to 164.0 pence, from 164.0p last year.

The company proposed a final dividend of 45.8p, down 7.3% from 49.4p a year earlier. It brings the full year dividend to 67.9p per share, a 2.4% increase from 66.3p per share in 2021.

Shares were up 0.5% at 2,094.00p in London on Friday morning.

Looking ahead, Computacenter said internal investments will benefit the company in the long term. The firm’s outlook remains positive, expecting progress in 2023. It said in 2023, it does not expect to experience ‘anywhere near the same challenge’ as it faced last year.

Chief Executive Officer Mike Norris said: ‘We have seen top-line revenue extremely buoyant so far this year and expect this trend to continue. Our challenges for the coming year include, to a small extent, technology sourcing margins.

‘Supply constraints have eased materially and while some will always remain, we are now operating at close to normal market conditions,’ he added.

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