Softcat revenue and profit rise in third quarter

Softcat said revenue and profit rose in its third quarter and that its business was proving resilient during the Covid-19 crisis.

In a brief trading statement for the three months to the end of April the FTSE 250 company said: "The company has traded satisfactorily during the period and delivered growth in revenue, gross profit and operating profit. Cash receipts from customers have remained broadly in line with normal trends."

The statement was Softcat's first update since the technology infrastructure company cancelled its interim dividend at the end of March to conserve cash during the Covid-19 crisis.

"There remains a high degree of uncertainty in the coming months and Softcat is not immune to the challenges faced by the wider economy," the company said on Tuesday. "However, we have moved seamlessly to a remote working model and the board is encouraged by the resilience of the business thus far."