|
Softcat PLC shares rose on Tuesday after the firm reported interim profit growth ahead of its own expectations due to a good performance across all areas of the business.
Softcat shares were trading 8.0% higher at 1,857.00 pence each on Tuesday morning in London.
For the six months that ended January 31, the Marlow, England-based IT infrastructure provider recorded pretax profit of £64.2 million, up 13% from £57.0 million a year before.
Operating profit grew by 12% to £64.1 million from £57.1 million. Softcat said operating profit was ahead of its initial expectations.
This was on revenue of £770.9 million, up 35% from £577.0 million.
Softcat credited its results to a good performance across all areas of the business in the first half.
‘Transaction numbers grew strongly as we saw more customers emerge from the impacts of the pandemic, and this drove a 12% expansion in gross profit per customer,’ the company said.
Further, Softcat said its half-year performance was achieved against the backdrop of supply chain challenges, which it said remain manageable but are contributing to a relatively modest backlog of hardware orders.
The company declared an interim dividend of 7.3p, up 14% from 6.4p the year before.
Looking ahead, Softcat said: ‘While the current geopolitical and macroeconomic volatility make it more difficult to forecast performance, because of the outperformance in the first half the board now believes that the outturn for the full year will be ahead of previous estimates.’
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
