Softcat sees shares surge as investment continues across its IT businesses

Softcat sees shares surge as investment continues across its IT businesses

IT business Softcat saw its share price surge Wednesday morning after the company said it was “materially ahead” of where it expected to be for this stage of the year.

The company, based in Marlow, Buckinghamshire, saw its shares jump 20pc as it took the lead as the top riser on London’s main stock market.

Softcat offers IT infrastructure products and services, letting clients integrate technologies such as cloud computing and data analytics while helping companies mitigate cyber security risks. It currently holds a market valuation of £1.2bn.

The FTSE 250-listed group has seen an extended period of success after it said in a trading update that it had delivered year-on-year growth in revenue and operating profit for the three months to the end of October 2018.

In its last fiscal year, Softcat generated revenue of £1.1bn and accumulated a profit of £175.2m.   

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