logo-loader
viewSoftcat

Softcat financials reveal strong growth as simple strategy is “well-executed”

The FTSE 250-listed firm said revenue rose by 24.4% from the previous year to £991.8mln, while gross profit amounted to £211.1mln, up 20.5%

Softcat - Softcat financials reveal strong growth as simple strategy was “well-executed”
Trading in the first eleven weeks of the new financial year was described as “on track”

Softcat PLC (LON:SCT) saw its financial results reveal strong growth in revenue and profit in the twelve months ended 31 July.

The FTSE 250-listed firm said revenue rose by 24.4% from the previous year to £991.8mln, while gross profit amounted to £211.1mln, up 20.5%, and pre-tax profit was reported at £84.81mln.

The IT infrastructure and services group said the success reflected the fact that its straightforward strategy continues to be well-executed.

It noted increases in customer numbers as well as average profit per customer, marking progress toward key strategic aims.

READ: Billion-pound companies that maybe you thought weren't

The business itself expanded, with employee headcount rising 15% amid investment in services, technical and specialist capabilities.

“Whilst our key aims of winning new customers and selling more to existing customers remain unchanged, we are doing much to further expand our addressable market and, as a result, the company enters the new financial year in a strong position and with good momentum,” Graeme Watt, Softcat chief executive said in a statement.

Watt added: “It's been another great year for Softcat in which we have delivered strong growth and financial success, but most importantly we have continued to strive to provide a first-class service to our customers while at the same time expanding our offerings to them.”

In its outlook statement, Softcat said it was in “great health” and was “strategically well-positioned” with structural growth drivers in place.

The company added that it is confident it can gain market share and achieve its targets for further growth during 2020. Trading in the first eleven weeks of the new financial year was described as “on track”.

Softcat confirmed a final dividend of 10.4p, 18% more than last year, along with a 16p per share special dividend. It ended the financial year with £79.3mln of net cash.

In a separate statement this morning, the company also announced the appointment of Karen Slatford as an independent non-executive director of the company.

Quick facts: Softcat

Price: 1158 GBX

LSE:SCT
Market: LSE
Market Cap: £2.3 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

Inspired Energy raises up to £35mln in placing and open offer and fully...

Inspired Energy PLC's (LON:INSE) Mark Dickinson speaks to Proactive after announcing they've raised £35mln and struck a deal to acquire the 60% of Ignite Energy that it does not already own. Dickinson says the acquisition will accelerate the group's organic growth in optimisation services. In an...

10 hours, 52 minutes ago

2 min read