Softcat lifts full-year profit outlook

(Sharecast News) - Softcat lifted its full-year profit outlook on Friday, saying it continued to perform well in the third quarter, delivering strong double-digit year-on-year growth in gross profit and underlying operating profit.

The company, which provides IT infrastructure technology and services, said growth remains broad-based with particular strength in corporate. This is supported by customer demand for AI-enabled infrastructure and continued pull-forward of some orders due to memory shortages.

The company said it was pleased with its progress to date and now expects mid-teens growth in underlying operating profit for the full year, up from previous guidance of high single-digit growth.

Chief executive Graham Charlton said: "We have continued to see strong customer demand, with the impact of AI on technology driving investment and innovation across all elements of IT infrastructure. Our uniquely broad offering brings together specialisms from the datacentre to the edge, through the network, security, data and automation layers, and across hardware, software and services, spanning the design, implementation, management, support and optimisation of new solutions.

"This puts us in a strong position to help customers as technology platforms become more complicated and integrated in an age of significant change. With more than 10,000 customers, our experience from the mid-market all the way through to large and complex customers in highly specialised industries, gives us an unrivalled depth of expertise to draw on just when CIOs and IT managers need that help and insight most."

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