Channel outfit Softcat is reporting some rather good figures for its first public full year.
The channel player reporting strong results and a £28m special dividend. The firm saw a 12.8 percent increase in revenues to £672.3m and gross profit coming in at 17.5 percent up on last year at £120.7 for the year ended 31 July. That gross profit number was helped by a one-off procurement saving of £3.4m.
Softcat saw a 7.5 percent increase in customer numbers and increasd its staff by 21 per cent to support its growth plans.
The channel outfit went public in November last year and the share price has consistently outperformed the initial valuation.
Martin Hellawell, Softcat CEO, said that the last financial year had seen it open an office in Glasgow, add 133 to the workforce and pick up a clutch of best partner awards from leading vendors.
“We are pleased to report continued strong organic growth at Softcat with 12.8 per cent revenue growth, 17.5 per cent growth in gross profit and 15.2 per cent growth in adjusted operating profit, achieved against a backdrop of very modest growth in the UK economy which has equally been reflected in the IT market,” he said.
“We have continued to win large numbers of new customers and earn increased spend from our existing customers. This has been achieved by our relentless focus on customer service, which is in turn driven by an excellent and engaged team of people at Softcat,” he added.
