Skip to content
Home / News |

Softcat Share Price Soars on Strong Trading Activity

softcat
Nigel F

Shares of Softcat PLC (LON: SCT) soared more than 7.5% today in London after the IT firm delivered strong results for the quarter to October 31.

According to the trading statement released this morning, Softcat said revenue, gross profit and operating profit all increased on a year-on-year basis.

The company has also achieved its recruitment targets while cash generation has remained in line with expectations.

X testing X
WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
5.0
Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

“We’ve performed well during the first quarter and saw good results from both corporate and public sector segments but are mindful that there is still a long way to go,” said chief executive Graeme Watt in a statement.

Last month, Softcat said it will pay its shareholders a special dividend of 7.6p in addition to ordinary dividend for the full-year. The company is in a strong financial position after witnessing its full-year revenue advancing 9% to £1 billion for a year ending July 31.

Softcat share price gains on strong trading activity November 2020

Softcat share price trades over 7.5% higher to swing into the positive territory for November.

PEOPLE WHO READ THIS ALSO VIEWED:

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.