Softcat starts year strongly and hails "broad-based demand"

(Alliance News) - Softcat PLC on Tuesday said it has kicked off its financial year strongly and ...

Alliance News 28 November, 2023 | 9:59AM
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(Alliance News) - Softcat PLC on Tuesday said it has kicked off its financial year strongly and trading is in line with expectations.

The IT infrastructure and services provider reported double-digit gross profit growth in the first-quarter to October 31, as it enjoyed "broad-based demand".

"I'm pleased to report that the team has once again delivered a strong performance in the period. The demand patterns were consistent with what we saw in the second half of FY2023 with interest in AI technology and the enabling infrastructure continuing to build across the customer base. This is a very exciting time for our industry and customers need more support than ever with the business challenges they are facing," Chief Executive Officer Graham Charlton said.

The Buckinghamshire-based firm said it is trading in line with internal expectations.

Softcat shares were 0.8% higher at 1,248.35 pence each in London on Tuesday morning.

By Eric Cunha, Alliance News news editor

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Softcat PLC 1,509.00 GBX 0.73 -

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