March 19, 2019 / 7:43 AM / a month ago

Softcat sees FY 'marginally' above expectations, adds more customers

(Reuters) - Softcat Plc said on Tuesday its full-year results would be “marginally” ahead of expectations after a surge in new customers helped the British IT company report a jump in interim revenue.

The company’s shares are indicated to open up 2 percent in London, according to pre-market indicators.

Softcat has been benefiting from demand for hybrid cloud computing, which is a mix of private and public cloud services, as well as increased digitalisation in businesses and security solutions, amid stricter data protection requirements and increased scrutiny.

Marlow-based Softcat said it added more than 620 new customers in the period, helped by an 18.7 percent jump in gross profit per customer.

Softcat’s revenue for the six months ended Jan. 31 rose 21.1 percent to 434 million pounds ($575.6 million), as more businesses opted for its offerings, especially in the hubs like London and Manchester.

Reporting by Pushkala Aripaka and Karina Dsouza in Bengaluru; Editing by Gopakumar Warrier

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