Softcat starts as it means to go on with buoyant Q1 update

VAR sees growth in revenue, gross profit and operating profit

Softcat has "maintained strong momentum" for the first quarter of its fiscal 2020.

In a trading update, the VAR reported that it had delivered year-on-year growth in turnover, gross profit and operating profit.

CEO Graeme Watt hailed the figures and anticipated that the recently opened Birmingham office will soon be contributing to the company's growth.

"We've performed well during the first quarter of our new financial year. Customer numbers and gross profit per customer were both up on the prior period, and we again saw growth across all areas of technology and customer segments," he stated.

"We also successfully opened our new office in Birmingham in September and are excited about the contribution it can make over the long term.

"While it is still early in our new financial year, I'm confident we will achieve the goals we have set ourselves for 2020."

Softcat saw its full-year 2019 revenue jump 24 per cent to £991.8m, with Watt at the time highlighting certain technologies, such as mobile workforce, security, edge computing and software-defined management, as growth drivers for its FY20.

The CEO told CRN earlier this month that there won't be any "dramatic changes" with regards to its portfolio, but that it will continue to evolve through direct investments or partnerships.

"We know we've got a modest market share in a fragmented market so we think that the focus on what we're doing now, keeping that relevant and up to date, is the right way to go," he said at the time.