27th Nov 2019 09:38
(Alliance News) - Softcat PLC said Wednesday it has maintained its strong momentum in the first quarter.
The IT infrastructure firm said it recorded year-on-year growth in revenue, gross profit and operating profit in the three months to October 31.
"We've performed well during the first quarter of our new financial year," Chief Executive Graeme Watt said.
"Customer numbers and gross profit per customer were both up on the prior period, and we again saw growth across all areas of technology and customer segments. We also successfully opened our new office in Birmingham in September and are excited about the contribution it can make over the long term. While it is still early in our new financial year, I'm confident we will achieve the goals we have set ourselves for 2020."
In its most recently ended financial year, ended July 31, the FTSE 250 company reported revenue growth of 24% to GBP991.8 million. Pretax profit rose by 25% to GBP84.8 million, thanks to an increase in both customer numbers and average gross profit per customer.
Shares in Softcat were 0.4% higher in London on Wednesday morning at 1,139.00 pence each.
By Paul McGowan; [email protected]
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