Shares in Softcat jumped as much as 12% in early London trade after the IT infrastructure supplier upgraded its full year earnings expectations.
The Marlow-based business said it expects to deliver another year of double-digit gross profit growth in 2025, with operating profit growth now expected to be low double-digit, up from high single-digit previously.
The firm posted revenues of £546m for the six months to the end of January, a rise of 16.8% compared to the previous year, while gross profits were up 12.1% to £220m. Softcat also ramped up hires, adding more than 100 staff to its headcount to top 2,600.
CEO Graham Charlton said: “We are excited by the rapid pace of innovation across our industry, with more organisations embedding AI and automation into their systems and processes.
“Our existing capabilities and continued investment mean we are well positioned to support the evolving technological needs of our customers, enabling us to sustainably grow market share.
“Should a compelling opportunity arise, our financial strength also provides us with the flexibility to accelerate further through acquisitions.”
Softcat shares have climbed around 20% since the start of the year.
Softcat earlier this month opened its new London office at the St. Botolph Building in Houndsditch as it builds on its presence in the capital.
The new site is 22,0000 sqf larger than the previous one and features focus rooms, four single-person booths, a wellbeing room and multifaith room, a quiet library area, a fun gaming area, and an IT help desk area.
The office is also the firm’s only site to feature a townhall presentation space that can accommodate 380 people, along with a smaller presentation space for 150 people.
Matt Brennan, sales and office manager for Softcat London, said: “I believe this move is absolutely going to drive our success and collaboration with its enhanced space and technology.”
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