Quarterly results put Softcat financials on track
UK IT provider Softcat has purr-formed in line with expectations for the first quarter of FY22.
The return to the office has helped Softcat sink its claws into improved revenue, gross profit and operating profit. In a trading announcement published today, the tech company said it had “performed well” in the fur-st quarter, putting financial results in line with targets.
Graeme Watt, Chief Executive Officer, commented on the results. He said “the team has continued to perform well during the first quarter and 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,” he added.
It comes after the company reported a strong set of financials for FY21. Gross profit rose 17.2 per cent to £276.4m in the year ending 31 July 2021. When it came to investor payouts the cats certainly got their cream with earnings per share lifted to 48.2p.
Softcat’s share price is up 36.93 per cent this year to date.
Read more: IT provider Softcat soars in full year results amid strong demand