Softcat profit jumps 41%; sees annual result 'marginally' ahead of expectations
Source - SMW
IT infrastructure and services provider Softcat posted a 41% rise in first-half profit, as it won more customers, and forecast a full-year result 'marginally ahead' of previous expectations.
Pre-tax profit for the six months through January rose to £34.0k, as revenue jumped 21% to £434.0m.
Softcat declared an interim dividend of 4.5p per share, up 36% on-year.
Customer numbers grew by 6.5%, a little slower than the 6.7% growth posted on-year.
'The results reflect the company's continued ability to gain an increasing share of the market, delivering both very strong profit growth and excellent cash generation,' Softcat said.
Chief executive Graeme Watt said it had been 'another period of very strong performance for the company, characterised by additional market share gains'.
'We have maintained our ongoing and long-term investment in building scale and creating new capabilities, and this has delivered further success against both of our simple strategic goals of doing more business with our existing customers and winning new customers,' he said.
'We added more than 600 new customers in the period while gross profit per customer grew by almost 20%.'
'Those metrics extended our run of unbroken year-on-year income and profit growth to a 54th quarter.'
'The board expects a full year outcome marginally ahead of previous expectations.'