Softcat hails Q1 performance after reporting growth across the board

Reseller says revenue, gross profit and operating profit all increased in Q1

Softcat has reported growth in revenue, gross profit and operating profit for Q1.

The reseller did not publish specific numbers, but said that customer demand had "remained strong across all segments" during the three months ending 31 October.

CEO Graeme Watt said: "We've traded well during the first quarter of our new financial year and, while there's still a long way to go, we're pleased with performance so far and are exactly where we'd want to be at this stage.

"The company has grown both customer numbers and gross profit per customer during the period, in line with our simple strategy. The breadth and depth of our offering, together with the scale and diversity of our customer relationships, remain key strengths upon which we continue to build and during the period we saw good growth across all customer and technology segments.

"Our second quarter has started well and I'm confident we will meet the board's expectations for the year."

Softcat announced its full-year results last month, with revenue breaking the £1bn barrier for the first time.

Speaking to CRN at the time, Watt said the firm is optimistic about the year ahead but highlighted that wider factors may see growth in the IT sector slow.

CFO Graham Charlton added that Softcat does not issue explicit guidelines but said that, at the time, analysts were forecasting low double-digit growth on the top line and high single-digit growth on the bottom line.