Tag: Softcat

Softcat’s annual survey of more than 4,000 reseller customers across 2,900 organisations in the UK and Ireland has revealed that cyber security is a top priority for more than half.

It is the second consecutive year cyber-security has emerged as the dominant focus, with 56 per cent of respondents pinpointing it as their top priority.

Softcat’s chief technologist for cyber-security, Kieron Newsham, said it was important for organisations to not only recognise the importance of cyber security but also use new technologies for recovery and normalisation after cyber incidents.

Digital workspace claims the spotlight as the second most prioritised area.

The survey found that a third of organisations (39 per cent) emphasise devices and end-user computing for the upcoming year. Read more…

Softcat’s share price rose by over five per cent this morning as it unveiled its interim results, despite reporting slower growth.

Having stood at close to 30 per cent in its fiscal 2022, Softcat’s gross invoiced income (GII) growth slowed to 4.9 per cent in the six months to 31 January 2023. Operating profit also dipped by two per cent to £63.1 million, ending a run of 68 quarters of consecutive growth.

However, the slower GII growth was due almost entirely to the artificial impact of the high-value, low-margin business it secured with a “major” customer the prior year. Softcat had already prepared the market for a possible profit dip as its travel and entertainment costs rebounded post-Covid.

Operating profits were better than expected while Softcat’s key profit measure of gross profit hiked by 17.9 per cent to £177.1 million.

While many big tech firms are laying off staff, Softcat is giving them more money and this policy had a  “profoundly positive impact” on attrition rates and its ability to attract new talent. Read more…

Softcat has a brand spanking new office in Newcastle and is looking for staff to fill it.

The reseller is getting its ninth UK office ready and believes that there is a “large opportunity for growth and recruitment” between its existing bases in Leeds and Glasgow.

Softcat opened its eighth UK office in Birmingham in 2019, and has a Marlow HQ, and offices in London, Leeds, Glasgow, Bristol, Manchester and on the South Coast, as well as Dublin. Read more…

Softcat’s next CEO says that the business is continuing its sustainability efforts.

Graham Charlton was chosen as the channel player’s next CEO when Graeme Watt moves into the chairman role next August.

Charlton said that Softcat had continued to drive its sustainability initiatives and was determined to keep pushing for higher standards.

“We are putting a lot of time and resource into tackling this at all levels to how we report progress, but also how we understand scope three emissions – they’re not fit for purpose at the moment, and they’ve got to evolve if we’re going to get this right together,” he said. Read more…

Softcat has scored a new contract to be the new device partner for Liverpool University Hospitals NHS Foundation Trust.

The Trust is giving Softcat £4 million to sort out its end-user devices, peripherals, pre-staging, deployment, engineering, and recycling services. It will help deliver modern health-specific solutions.

Adam Rice, public sector director at Softcat, said: “Softcat plc is delighted to be working with the Liverpool University Hospitals NHS Foundation Trust to support the organisation sort out its digital transformation. Read more…

Softcat has had two of its targets approved by the Science Based Targets Initiative (SBTI).

Having set a 2040 carbon net zero supply chain goal last May, the reseller has had its targets of slashing its scope 1, 2 and 3 emissions by 45 percent by 2030 and by 90 percent by 2040 green-lighted by SBTi.

SBTi is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050, Softcat explained. Read more…

Marlow-based Reseller Softcat posted profits “ahead of expectations” and steep revenue growth across all business segments.

For the six months until 31 January 2022, gross invoiced income grew by 33 percent to £1.16 billion, while revenue under IFRS 15 grew by 33.6 percent to £770.9 million.

Operating profit increased by 12.4 percent to £64.1 million over the six-month period, while gross profit grew 11.7 per ent to £150.2 million. Average gross profit per customer grew by 12.4 percent to £30,200 with Softcat claiming that it continued to grow its customer base.

Softcat claims that it made “good progress” across all customer segments and across software, hardware and services. Read more…

Softcat has a new “high-level” hybrid working policy.

CEO Graeme Watt said there was a need to strike a balance between flexible and remote working and retaining a strong, and energetic culture.

Softcat implemented a new hybrid working policy from 1 November, Watt said, stressing that it is”as high level as possible” and emphasises flexibility over rigidity, with staff trusted “to make a good judgement”.

“It’s a hybrid working policy that we put in place with a slight bias to the office”, Watt said.

“You could interpret that as 2.6 days a week. Most people interpret it as three days a week. There is a slight bias to the office because we can’t afford to lose the energy, the engagement, the commitment, the soft and hard learning and the agility that you get from being in the office.

“We’re happy for people to have the best of both worlds, without any degradation to the way we operate as a business. And it’s been great. I’m in the London office today and there are people everywhere. It’s not quite the same numbers as we had pre-pandemic, but it’s the biggest numbers we’ve had in 18 months or more, and I think everybody is seeing the benefit of that.”

UK reseller giant Softcat saw its sales and profits rise over the past year.

CEO Graeme Watt said revenue for the 12 months ending 31 July 2021 stood at £1.16 billion, an increase of 7.4 percent, while gross invoiced income stood at £1.94 billion which was up 17.7 percent from the prior year.

Gross profit rose 17.2 percent to reach £276 million while operating profit increased by 27.4 percent to £119 million.

Watt identified “strong public sector demand” and “further recovery in the corporate sector” as two factors which were behind the growth of the business over the past year but said the company is in a good position across all sectors.

He thought the figures were related to the fact that companies are returning to some level of normality in terms of the way they trade and the way they behave with parties. Read more…