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Softcat continues to deliver the goods

Investors who put their faith in Softcat continue to see that decision repaid as the firm updated the market on the full fiscal year numbers

Softcat continues to repay the faith of those investors that backed the firm when it went public just shy of two years ago with another solid financial update.

The channel player has been a consistent performer even before going public and for the year ended 31 July delivered a 23.8% increase in revenue to £832.5m.

Operating profit was also up by 18.9% to £50.2m  and the firm saw its customer base swell by 6% to hit 13,000 with a gross profit per customer improving by 6.5% to £10,500.

As the business has grown so have the staff numbers and in the last fiscal year the firm increased headcount by 18% as it increased the number of people across the business, in particularl the services and technical side of operations.

The search for a replacement CEO continues with the current incumbent Martin Hellawell not quite ready yet to step into the role of non-executive chairman.

“I’m pleased to  report  on another very strong year for Softcat with 24% revenue growth and double-digit growth in both gross profit and operating profit," he said.

"Our simple strategy of winning new customers and selling more to existing customers was successfully executed, and we were delighted to welcome an incremental 800 customers last year and to see gross profit per customer increase by over six per cent.  Once again this was achieved through unwavering focus on customer service, delivered by an outstanding team of highly engaged Softcat people," he added.

His leadership at the channel player has be marked by 48 consecutive quarters of growth and that situation looks like remaining the norm.

"The business is in good shape and the opportunity ahead of us is clear," said Hellawell "It's still very early days [in the new fiscal year] and there is still all to play for but we are where we would like to be at this stage."

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