Softcat's full year results show revenue and profit growth as it adds customers and staff. The year ot July showed gross profit up 17.5% to £120.7m (2015: £102.8m), gross profit margin up 0.8% pts to 18.0% (2015:, 17.2%), although gross profit includes the benefit of a one-off procurement saving of £3.4m (2015: nil).
Customer numbers were up 7.5% on prior year (2015: 6.5%) as average headcount rose 21%, driven by record sales and service staff recruitment, assisted by the launch of a Glasgow operation.
Martin Hellawell, Softcat CEO commented: “We are pleased to report continued strong organic growth at Softcat with 12.8% revenue growth, 17.5% growth in gross profit and 15.2% growth in adjusted operating profit, achieved against a backdrop of very modest growth in the UK economy which has equally been reflected in the IT market.”
It continued to win large numbers of new customers and earn increased spend from our existing customers, he says. Other recent notable highlights include entering the FTSE 250, the opening of a Glasgow branch, an incremental 133 people joining our organisation in the last financial year, and industry awards including HP Enterprise Partner of the Year, Cisco UK&I Commercial Partner of the Year and Sophos UK&I Partner of the Year