Softcat hails 'solid' progress in trading update

Profits in line with expectations

Softcat has said it is confident that it will deliver a "strong performance" for the full year after delivering "solid" results in its latest quarter.

The reseller said in the three months to 30 April, it met management's expectations for gross and operating profit from underlying trading in the period, adding that it enjoyed higher than anticipated benefit from "now fully realised procurement savings".

"Revenue growth was slightly ahead of that seen in the first half, with gross profit and operating profit also growing faster than in the first six months," said the update.

"Business mix was again concentrated in higher-margin solutions categories."

It added that the results were achieved in terms of customer numbers as well as gross profit per customer.

"The solid ongoing progress that the company made during the third quarter gives the board confidence that the business is well placed to deliver a strong performance for the full year," Softcat added.

Softcat floated on the LSE in November last year.

The reseller was recently crowned the best large company to work for by Great Place To Work.