FY 2020 Trading Update and Notice of Results

RNS Number : 5063W

Softcat PLC

19 August 2020

 

19 August 2020

Softcat plc

FY 2020 trading update and notice of results

Softcat plc ("Softcat", or the "Company"), a leading UK provider of IT infrastructure products and services, today releases a trading update for the full year ended 31 July 2020.

Following the third quarter update provided in May, the Company has continued to trade satisfactorily during the final three months of the year and has delivered operating profit for the full year slightly ahead of the Board's expectations.

Cash generation also remained strong and it is now the Company's intention to resume its normal dividend policy and timetable later this year.  This will include payment of the interim dividend previously cancelled in March of this year.  These actions are dependent upon there being no material adverse movement in prevailing conditions in the period between now and publication of the Company's full year results, scheduled for 20^th October 2020.  Details of the final dividend decision will be provided within the October announcement.

Graeme Watt, CEO commented:

"Our performance during the year is a great credit to the team at Softcat and on behalf of the Board I would like to thank them for their exceptional agility.  The support they have shown to each other, our customers and our partners continues to be a key feature of our business.  Their commitment, alongside the breadth of our technology offering and customer base, provided a strong foundation for our performance in the second half.  We are pleased to have been able to maintain staff levels without any actions to furlough staff in this period.

Cash generation has been strong and as a consequence we intend to resume our normal dividend policy in addition to the reinstatement of the cancelled interim dividend."

For further information, please contact:
Softcat plc
Graeme Watt, Chief Executive Officer	+ 44(0) 1628 403 610
Graham Charlton, Chief Financial Officer
Media enquiries- FTI Consulting LLP
Ed Bridges/Matt Dixon	+ 44(0) 203 727 1000

 

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