Shares in Computacenter PLC (LSE:CCC) crumpled 8% to 2,710p after the IT group said it is still considering options of what to do with its excess cash, even though results were slightly better than expected.
Numbers for calendar 2023 were largely consistent with the January pre-announcement, with revenue up 11% to £10.1 billion on a gross invoiced income basis, while pre-tax profits rose 5.1% to £278 million.
Net cash came in at £459 million, up 88% from the previous year reflecting an unwinding of computing inventory that was used to manage supply chain disruptions post-Covid.
The board were said to be "evaluating a number of capital allocation options".