Softcat did OK in the first three months

Softcat has been doing OK during the year despite the general woe and issued its own third quarter trading update, which covers the three months to 30 April, to prove it.

That period covers a large chunk of the lockdown, and some of the weeks after a significant number of customers had made hardware, software, and security investments to facilitate a move to a home working.

“The company has traded satisfactorily during the period and delivered growth in revenue, gross profit and operating profit. Cash receipts from customers have remained broadly in line with normal trends”, stated the trading update.

“There remains a high degree of uncertainty in the coming months, and Softcat is not immune to the challenges faced by the wider economy”, the firm stated. “However, we have moved seamlessly to a remote working model and the board is encouraged by the resilience of the business thus far.”

Softcat has been a consistent performer ever since it went public in November 2015. In its most recent results, the firm delivered a solid set of numbers and indicated that the business had not seen a material impact from the coronavirus in its fiscal first half.

The reseller delivered 20.8 percent growth in revenues to £524.1 million for the six months to 31 January. Operating profit climbed by 19.5 percent, hitting £40.5 million.