New-customer wins propel Softcat into the £500m club

Reseller Softcat has smashed the £500m sales barrier in its last fiscal year after signing up a whopping 3,000 new customers.

For the 12 months to 31 July, the reseller's operating profit rose 30 per cent annually to £35.5m on sales which jumped 28 per cent over the same period to £504.8m.

The firm put the boom down in part to the end of life of Windows XP, which prompted a flurry of companies to upgrade their PC estates for fear of falling victim to security threats after support for the OS ended.

Public sector was another key area of growth for the firm, it said, pointing to the healthcare, education and local government markets as being key over the last financial year.

Half of the reseller's growth came from new-customer acquisitions – the firm traded with a record 3,000 new accounts in the last fiscal year. The number of Softcat customers spending more than £1m over the last financial year was "particularly strong", the firm said.

Softcat chairman Martin Hellawell said Softcat outperformed the IT market.

"We were delighted to break through the £500m barrier," he said. "These exceptional growth rates have been achieved against a backdrop of a market estimated at single-digit annual percentage growth. We have taken significant market share to achieve these results."

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• Softcat