Softcat revenues and profits grow, special divi declared

IT infrastructure and services company Softcat posted a rise in full-year profit and revenue on Wednesday as it declared a special dividend.

In the 12 months to the end of July, pre-tax profit rose to £84.1m from £68.1m the year before as revenue grew 24.4% to £991.8m. The group declared a final dividend of 10.4p a share, up 18.2% on the year, and a special dividend of 16p compared to 15.1p in 2018.

Customer numbers ticked up 3.4% during the year, while gross profit per customer was 17% higher.

Chief executive officer Graeme Watt said: "Whilst our key aims of winning new customers and selling more to existing customers remain unchanged, we are doing much to further expand our addressable market and as a result the company enters the new financial year in a strong position and with good momentum.

"Customer requirements are becoming more complex and they are faced with greater choice. The opportunity for Softcat is growing and this underpins our willingness to invest in skills and expertise for the long term."

Softcat said trading in the first 11 weeks of the new financial year had been "on track".