Softcat sees full year ahead of expectations

IT infrastructure products provider Softcat said on Wednesday that it expects to deliver full-year results ahead of expectations after a solid third quarter.

In a brief update for the quarter to 30 April, the group said it has continued to trade well across all segments, maintaining momentum from the first half and reflecting further successful execution of its strategy, with market conditions and customer demand both remaining strong.

Chief executive officer Graeme Watt said: "We continue to hit our goals across the business. We've achieved this through our high energy focus on winning new customers and selling more of our technology and services portfolio to existing customers.

"This simple strategy is serving us well and we still have considerable market share opportunity.

"As I get to know the company my immediate priorities are spending time with our people and customers. I'd like to thank the Softcat team for such a warm welcome and our customers and suppliers for their continuing support."

At 0950 BST, the shares were up 8% to 713.08p.