logo-loader
viewSoftcat

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 -

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.

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...

1 day, 11 hours ago

2 min read