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Softcat shares spike after FY guidance upgrade
(Sharecast News) - Shares in Softcat surged on Wednesday as the company lifted expectations for operating profit growth after interim earnings jumped by 12%. The IT services provider said operating profit growth for 2025 should be in the low double-digit percentage range, up from previous guidance of high single-digits, supported by an "encouraging" second half pipeline. Shares were up 11% in early London trade.
Gross profit, Softcat's primary measure of income, grew 12.1% to £220.2m, consistent with full year guidance for low double-digit growth and slightly ahead of expectations for the first half.
Operating profit for the six months to January 31 came in at £73.7m on revenue of £546m, up 16.8%.
"Market conditions have remained relatively challenging with continued macroeconomic uncertainty, and our performance in these conditions highlights the resilience of our business model, including the benefit of having a very broad portfolio of solutions catering to a diverse customer base," the company said on Wednesday.
Reporting by Frank Prenesti for Sharecast.com
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