(Alliance News) - Softcat PLC on Tuesday said it saw a positive performance in the first quarter of its financial year with trading meeting expectations as the previous year's positive momentum followed through into financial 2022.
The Marlow, Buckinghamshire-based IT infrastructure technology and services company said it generated year-on-year growth in gross profit, operating profit and revenue, during the first quarter ended October 31.
Softcat stated cash generation remained strong and "in line with normal trends" and said progress to date had met expectations.
This comes after Softcat generated a record set of results in the previous financial year ended July 31. Pretax profit grew 27% to GBP119.0 million from GBP93.6 million a year before. Revenue rose 7.4% to GBP1.16 billion from GBP1.08 billion. The company also mentioned strong cash generation.
"We saw good growth from both mid-market and enterprise corporate customers as well as the public sector. Customer demand has remained high and the hardware supply situation is stable. We've a lot still to do in the next nine months but the team is delivering with confidence and is benefitting from being able to spend more time together in our offices," Chief Executive Graeme Watt.
Softcat shares were up 0.4% at 1,913.71 pence each on Tuesday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Softcat (SCT)