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Softcat purrs as it lifts annual profit guidance for fourth time this year

Softcat has enjoyed a strong final quarter, which is typically when it makes most of its money

pc
Its financial year ends next week

Softcat PLC (LON:SCT) ticked higher on Thursday morning after the IT infrastructure and software group lifted its annual profit guidance for the fourth time this year.

The FTSE 250 group, whose financial year finishes next week, only last upgraded its forecasts at the end of May.

READ:  Softcat rises after strong trading performance

But it has “continued to trade well” since then, during what is typically its most lucrative quarter.

“As a result, the board now expects that full year operating profit will be ahead of its prior expectations,” said Softcat in a brief announcement.

Preliminary results are scheduled for release on 23 October 2019.

Shares headed back towards all-time highs, rising 3.5% to 952p.

Quick facts: Softcat

Price: 1158 GBX

LSE:SCT
Market: LSE
Market Cap: £2.3 billion
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