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Softcat PLC on Tuesday reported double-digit rises in both annual revenue and profit, citing "strong performance", as it sweetened its total dividend by 15%.
For the financial year that ended on July 31, the Marlow, England-based IT infrastructure provider recorded a pretax profit increase of 14% to £136.1 million from £119.0 million, while revenue jumped by 38% to £1.08 billion from £784.0 million.
Softcat noted "strong performance across both first and second halves of the year, extending our record of unbroken organic year-on-year growth in gross invoiced income, gross profit and operating profit".
In Software particularly, revenue grew 17% to £150.0 million from £128.4 million the year before.
Softcat upped its final dividend by 15% to 16.6 pence from 14.4p a year prior, taking its total dividend to 23.9p from 20.8p, also an increase of 15%. Softcat also declared a special dividend of 12.6p, down 39% from 20.5p a year earlier.
Chief Executive Graeme Watt noted Softcat has now recorded 68 successive quarters of organic year over year income and profit growth. "We made excellent progress selling deeper into existing customers and saw gross profit per customer improve by 16%, while also attracting new customers driving 2.1% growth in our overall customer base," he added.
Looking ahead, Softcat said it expects to continue to deliver double-digit gross profit growth. It noted that demand has remained strong and customer behaviour across all segments is normal.
Softcat expects operating profit for the financial 2023 to in line with expectations and at similar levels to financial 2022. It reported £136.1 million in operating profit in the current financial year, up 14% from £119.4 million the year before.
Softcat shares were down 0.1% at 1,119.20 pence each on Tuesday morning in London.
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