By Najat Kantouar
Softcat has reported a higher pretax profit for fiscal 2023 and said it expects full-year operating profit to be in line with market expectations.
The London-listed provider of IT-infrastructure products and services said Tuesday that pretax profit for the year ended July 31 was 141.9 million pounds ($173.8 million) compared with GBP136.1 million for the same period a year earlier.
Revenue fell to GBP985.3 million compared with GBP1.08 billion reflecting a decline in hardware gross invoiced income and soft market demand for client devices.
Gross profit grew by 14.2% to GBP373.8 million from GBP327.2 million driven by 1.9% growth in the customer base.
The board recommends a final dividend of 17.0 pence, resulting in a full year payout of 25.0 pence, up 4.6%, and also declared a maintained special dividend of 12.6 pence.
“The company remains in a very strong financial position, and we have great confidence in our long-term growth and cash generation,” Chief Executive Officer Graham Charlton said.
The company has provided an operating profit consensus of GBP152.1 million for the year. This compares with GBP140.9 million for fiscal 2023.
Softcat said that it expects profit to be second-half weighted with modest growth in the first half against strong comparatives.
Write to Najat Kantouar at [email protected]
Read the full article here
