Softcat up on trading update

FTSE 250 IT infrastructure firm Softcat (LON:SCT) saw its share price increase by 2.33% to 1,360p (as of 12:35 BST) after reporting that operating profits for the year ended 31st July were ahead of expectations. Trading during the final quarter remained strong as did cash generation, and management believe that the dividend policy will be resumed later this year including payment of the cancelled interim dividend.

CEO Graeme Watt commented: “Our performance during the year is a great credit to the team at Softcat and on behalf of the Board I would like to thank them for their exceptional agility. The support they have shown to each other, our customers and our partners continues to be a key feature of our business. Their commitment, alongside the breadth of our technology offering and customer base, provided a strong foundation for our performance in the second half. We are pleased to have been able to maintain staff levels without any actions to furlough staff in this period“.