Soft­cat shares rise as it re­veals profit and rev­enue growth

The Daily Telegraph - Business - - Technology Intelligence - By Hasan Chowd­hury

SHARES in Soft­cat surged by nearly a fifth yes­ter­day af­ter the IT busi­ness said it was “ma­te­ri­ally ahead” of where it ex­pected to be for this stage of the year.

Soft­cat of­fers IT in­fra­struc­ture prod­ucts and ser­vices, let­ting clients in­te­grate tech­nolo­gies such as cloud com­put­ing and data an­a­lyt­ics while help­ing mit­i­gate cy­ber-se­cu­rity risks.

The FTSE 250 com­pany has en­joyed an ex­tended pe­riod of suc­cess af­ter it said in a trad­ing up­date that it had de­liv­ered year-on-year growth in rev­enue and op­er­at­ing profit for the three months to the end of Oc­to­ber 2018.

In its last fis­cal year, Soft­cat gen­er­ated rev­enue of £1.1bn and ac­cu­mu­lated a profit of £175.2m. It cited suc­cess with its con­tin­ued in­vest­ment to scale the busi­ness and the open­ing of its Ir­ish of­fice. The com­pany first listed on the Lon­don Stock Ex­change in No­vem­ber 2015 and has since seen its shares rise al­most 200pc. They gained 105p to 694p yes­ter­day, up 17pc, although they are still be­hind last Au­gust’s 888p peak.

Credit Suisse has re­viewed its pre­dic­tions for Soft­cat’s earn­ings per share, boost­ing them by 4pc for the year.

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