26th May 2021 11:23
(Alliance News) - Softcat PLC on Wednesday said it continued to trade well in the third quarter of its current financial year, with further double-digit year-on-year growth in revenue, gross profit and operating profit.
The Marlow, England-based IT infrastructure provider said run-rate transaction volumes strengthened in the three months to April 30 and cash collections and conversion have remained good, in line with normal trends.
The FTSE 250-listed company said it anticipates that results for the full year ending July 31 to be ahead of expectations.
Looking further ahead, Softcat noted two limiting factors on its likely results for financial 2022. Firstly, cost savings related to Covid are expected to reverse as travelling to see customers and internal events again becomes possible. Secondly, the first half of its current financial year contained a number of the largest deals the company has ever transacted, significant elements of which were one-off in nature.
Therefore, the company said it expects its earnings before interest and tax for financial 2022 to be broadly in line with those in financial 2021.
Softcat shares were trading 5.8% higher in London on Wednesday at 1,909.00 pence each.
By Evelina Grecenko; [email protected]
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