STOCK WATCH

IT SERVICES firm Softcat reported a profit boost of almost £8m.

The FTSE 250 company said profits rose to £50.3m in the year to July 31, up from £42.4m the previous year.

Martin Hellawell, the firm’s outgoing chief executive, said Softcat added 800 new customers in that time.

Hellawell is staying on at the company as non-executive chairman after a new CEO has been found.

Softcat shares rose 6pc, or 26.3p, to 465.5p.