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Softcat

IT specialist Softcat “materially ahead” of expectations after stellar December

The bullish outlook is a complete contrast to its predictions in October when Softcat cautioned that “exceptional market conditions” would make it difficult to keep up the pace of growth

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At just 72 words long, the announcement was short but sweet

Shares in Softcat PLC (LON:SCT) surged on Wednesday after the IT infrastructure specialist told investors it is “materially ahead” of where it had expected to be at this stage.

At the end of November, the FTSE 250 company said it was “pleased” with how it fared in its first quarter, with boss Graeme Watt adding that he was confident of meeting full-year expectations.

READ: Softcat reports year-on-year growth in Q1

The “strong” trading it reported back then continued throughout December and into the new year.

“As we approach the end of our first half, we are now materially ahead of where we expected to be at this stage of the year,” read a short statement ahead of its interim results for the six months to 31 January.

The bullish outlook is a complete contrast to its predictions in October when it cautioned that “exceptional market conditions” would make it difficult to keep up the pace of growth.

Shares jumped 17% to 688.9p in early deals on Wednesday.

Quick facts: Softcat

Price: £9.90

Market: LSE
Market Cap: £1.96 billion
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