Softcat, the IT infrastructure supplier, kept its full-year profit forecast unchanged, resisting the urge to upgrade after first-quarter profit grew faster than that guidance implies.
The FTSE 250 company said gross profit and underlying operating profit both rose by a strong double-digit percentage in the three months to 31 October.
Its full-year guidance, excluding the US business it is buying, is for high single-digit growth in underlying operating profit.
The board said it was pleased with the first quarter but that it was still early in the financial year.
Growth came from across its technology areas and types of customer.
Chief executive Graham Charlton said: "We have made a strong start to the year, building on our FY2026 performance, with continued good customer demand and positive momentum across our broad technology proposition."
US deal on track
Softcat said it was making good progress towards completing its $1.05 billion purchase of GDT, a Texas-based IT solutions provider.
It raised about £350 million from shareholders in September to help fund the deal, which should complete by the end of the first quarter of 2027.
The acquisition will give Softcat a large presence in the US for the first time.
Underlying operating profit rose 19.4% to £215.1 million in the year to 31 July.
Its shares fell more than 7% when it set out the more modest growth outlook for this year in October.
