In a trading update for its first fiscal quarter of 2021, the channel player said that it was still cashing in on last year’s momentum.
The update revealed the firm had been able to grow revenues and operating profit year on year, as well as hitting recruitment targets. The outfit has yet to announce more details but these are expected soon.
The board also noted that growth was continuing into its second quarter, a period that will include a second lockdown, although not as rigid as the first, and uncertainty as the Brexit deadline gets ever closer.
Softcat CEO Graeme Watt acknowledged that it was a difficult time to predict market conditions, but said the business was in a strong position.
“We’ve performed well during the first quarter, seeing good results from both corporate and public sector segments, but are mindful that there is still a long way to go. We remain focused on the well-being of our people and supporting our customers”, he said.
Softcat’s first-quarter trading statement comes just a few weeks after the firm released its 2020 full-year results, which showed an 8.6 percent increase in revenues to pass the £1 billion with operating profits also improving by 10.9 percent year on year to £93.7 million for the 12 months ended 31 July 2020.
Those numbers included the trading period during the worst of the first lockdown. However, the outfit saw its customer base and average gross profit from each relationship grow over the fiscal year.