19th Aug 2020 08:23
(Alliance News) - Softcat PLC on Wednesday said it saw a good final three months of the financial year and has performed slightly ahead of its expectations.
The IT infrastructure products provider said it delivered an operating profit for its financial year ended July 31, ahead of expectations. It also reported that it had "continued to trade satisfactorily" in the final three months of its year and cash generation was strong.
Following these results, the company has decided to resume its dividend policy after cancelling its previous interim dividend in March, which has now been reinstated. This, however, depends on there being no big changes until October 20, when Softcat publishes its full year results.
Chief Executive Graeme Watt said: "Our performance during the year is a great credit to the team at Softcat and on behalf of the board I would like to thank them for their exceptional agility. The support they have shown to each other, our customers and our partners continues to be a key feature of our business. Their commitment, alongside the breadth of our technology offering and customer base, provided a strong foundation for our performance in the second half. We are pleased to have been able to maintain staff levels without any actions to furlough staff in this period."
Softcat shares were up 2.1% at 1,356.95 pence each on Wednesday morning in London.
By Greg Roxburgh; [email protected]
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