Q1 2017 Trading Update

23 November 2016

Softcat plc

Q1 2017 trading update

Softcat plc ("Softcat", or the "Company"), a leading UK provider of IT infrastructure products and services, today publishes its trading update for the first quarter ended 31 October 2016 ("the period").

The Board is pleased with performance during the period. Positive momentum has been maintained during the first 3 months of the current financial year and gross profit performance has been strong. The Company has continued to make significant investments in both sales and technical resource. As a result, operating profit has performed in line with the Company's expectations. 

Outlook

The Softcat management team remains focussed on delivering profitable growth and cash conversion whilst building scale and developing the offering.

The Company has invested heavily in future growth and much of this investment is phased into the first half of the current financial year with the returns on these investments becoming evident in the second half of the year - seasonally the stronger six months for the Company - and beyond. As a result, operating profit is expected to be weighted towards the second half.

Martin Hellawell, Chief Executive Officer, commented:

"While it's still early days for us in FY17 we are off to a good start. We are pleased with the levels of growth we have seen in the first quarter and the investments we are making will further enhance our position in the market."

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