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.
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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.