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Hardware & electrical equipment

Softcat grows revenue and profits but says not immune to coronavirus crisis

“We have moved seamlessly to a remote working model and the board is encouraged by the resilience of the business thus far”

Softcat PLC (LON:SCT) said cash receipts from customers have remained “broadly in line with normal trends” for the past three months despite the coronavirus crisis.

Revenue, gross profit and operating profit all grew in its third-quarter to 30 April, the IT infrastructure group said a very short statement on Tuesday.

“There remains a high degree of uncertainty in the coming months and Softcat is not immune to the challenges faced by the wider economy,” the FTSE 250 outfit added.

“However, we have moved seamlessly to a remote working model and the board is encouraged by the resilience of the business thus far.”

In March, Softcat hiked its dividend 20% to 5.4p before cancelling it by the end of the month, saying it had not seen any material impact from the coronavirus crisis on its trading and that is planning to continue to invest in its business.

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