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Softcat makes 'solid' start to new financial year

Softcat told investors that first-quarter revenues were up 14% at £141mln, while gross profit margins remained in line with levels recorded during 2015.

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Softcat provides IT infrastructure products and services.

Softcat (LON:SCT), the newly-listed IT specialist, said it is confident of ‘meeting its objectives for the current financial year’ after posting a very solid first trading update.

In it Softcat told investors that first-quarter revenues were up 14% at £141mln, while gross profit margins remained in line with levels recorded during 2015.

It also said it had recruited 74new account managers and expanded the floor space at its headquarters in Marlow, Buckinghamshire. There are also plans for sales branch in Glasgow.

Softcat said it had enjoyed a ‘solid start’ to its new financial year.

Chief executive Martin Hellawell added: "The company's performance over the first quarter provides a firm foundation on which to begin life as a public company.”  

Quick facts: Softcat

Price: 1147 GBX

LSE:SCT
Market: LSE
Market Cap: £2.28 billion
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