Better than expected results at IT infrastructure provider
IT infrastructure technology and services business, Softcat, has reported a strong first half performance with positive momentum in its half year results for the six months to 31 January 2025.
The company, which has a base in Leeds, has reported revenues of £545.6m (2024: £467.2m) and pre-tax profits of £76.7m (2024: £68.2m).
Softcat says it made further targeted strategic investments to underpin future growth, with its headcount up six per cent on the prior period. The firm now employs more than 2,600 people.
Graham Charlton, CEO, said: “We have continued to successfully implement our strategy, resulting in a first half performance slightly above our initial expectations and an upgrade to full year guidance, despite the persistent backdrop of generally more challenging trading conditions.
“We are excited by the rapid pace of innovation across our industry, with more organisations embedding AI and automation into their systems and processes.
“Our existing capabilities and continued investment mean we are well positioned to support the evolving technological needs of our customers, enabling us to sustainably grow market share.
“Should a compelling opportunity arise, our financial strength also provides us with the flexibility to accelerate further through acquisitions.”
Softcat says it is investing in its capabilities to serve large and complex customers, alongside growing its multinational customer base.
It now has a network of branches in Europe, the Asia-Pacific region, an office in Virginia, USA, and expects to continue expanding its international footprint. The company recently established a presence in Germany.
The business says it continues to expect to deliver another year of double-digit gross profit growth in FY 2025, with operating profit growth now expected to be low double-digit, up from high single-digit previously, supported by an encouraging second half pipeline.
