Softcat ups operating profit guidance as celebrates larger projects

Softcat PLC on Wednesday lifted its full-year operating profit guidance, highlighting larger solutions projects.

The Buckinghamshire, England-based provider of IT infrastructure products and services reported that it delivered ‘strong’ double-digit growth on-year in gross profit and operating profit during its third quarter that ended April 30.

‘Growth remains broad-based across technology areas and customer segments, supported by the conversion of some larger solutions projects in the period,’ the company said.

Softcat now expects low-teens growth in operating profit for the year, upgraded from its prior guidance for low double-digit growth.

For the financial year ended July 31, 2024, the company had reported operating profit growth of 9.3%, to £154.1 million, from £140.9 million in financial 2023.

Softcat shares rose 1.8% to 1,812.00 pence each on Wednesday morning in London.

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