logo-loader
Softcat

Softcat edges higher as it lifts full-year guidance after strong first half

Trading for the six months to January 31 was better than management had expected, with adjusted operating profits up 19% year-on-year

laptop with graphs on
It’s been a bloodbath among the blue chips so far on Tuesday, but not for Softcat

Softcat PLC (LON:SCT) was one of the few risers on the FTSE 350 on Tuesday as the IT infrastructure provider lifted its full-year guidance on the back of a “strong” first half.

Amid the blue-chip bloodbath, the billion-pound firm revealed that trading in the six months to January 31 had been ahead of management’s expectations.

READ: FTSE 100 plunges 250 points at the open

Adjusted operating profits rose 19%, “reflecting consistent performance across the period and further successful execution of the strategy”.

Softcat conceded that, given the nature of its operations, its forward visibility is relatively low.

“However, the strong H1 performance will clearly support the full year outturn and as a result the board expects to slightly exceed previous expectations,” it added.

Shares rose 3.4% to 535.6p early on Tuesday.

Quick facts: Softcat

Price: £9.49

Market: LSE
Market Cap: £1.88 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Scancell back in the clinic with a phase II trial of its...

Scancell Holdings PLC's (LON:SCLP) Cliff Holloway tells Proactive London's Andrew Scott they've begun the UK arm of the phase II trial of its flagship skin cancer treatment. The trial is testing the safety and efficacy of SCIB1 in metastatic melanoma patients who are also receiving Merck’s...

15 hours, 9 minutes ago

2 min read