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Softcat feline confident after "strong" quarter

The IT infrastructure technology and services provider said revenue, gross profit and operating profit were all up year-on-year in the past quarter

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“While it is still early in our new financial year, I'm confident we will achieve the goals we have set ourselves for 2020”

Softcat PLC (LON:SCT) said it had “maintained strong momentum” at the start of its new financial year, with growing customer numbers and profit per customer.

Revenue, gross profit and operating profit in the quarter to 31 October all improved compared to the same period last year, the IT infrastructure technology and services provider said in a trading update on Wednesday.

“Customer numbers and gross profit per customer were both up on the prior period, and we again saw growth across all areas of technology and customer segments,” said Graeme Watt, chief executive of the FTSE 250-listed firm. 

He expressed optimism about the impact of a new office opened in Birmingham in September. 

“While it is still early in our new financial year, I'm confident we will achieve the goals we have set ourselves for 2020.”

Shares in the company, having already almost doubled since the start of the year, were up 1% to 1,142.9p in early trading.

Quick facts: Softcat

Price: 1158 GBX

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