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Softcat profit rises 24%, declares special dividend

By BFN News | 07:08 AM | Wednesday 23 October, 2019


Software company Softcat reported a 24% rise in annual profit and declared another special dividend as it boosted sales. Pre-tax profit for the year through July rose to £84.8m, up from £68.1m on-year. Revenue rose 24% to £991.8m. Softcat declared a full-year dividend of 10.4p per share, up 18% on-year, plus a special dividend of 16.0p, up 6% on-year. 'It's been another great year for Softcat in which we have delivered strong growth and financial success,' chief executive Graeme Watt said. 'Whilst our key aims of winning new customers and selling more to existing customers remain unchanged, we are doing much to further expand our addressable market and as a result the company enters the new financial year in a strong position and with good momentum,' he added. The company said structural drivers for growth in its industry would continue despite current political and economic uncertainty. 'The board also remains confident in the company's ability to gain market share and targets further growth during 2020,' Softcat said. 'Trading in the first eleven weeks of the new financial year has been on track and we look forward to the rest of the year with confidence.' Story provided by StockMarketWire.com

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