IT provider Softcat ‘re-doubles’ cyber defences amid Ukraine conflict
IT infrastructure provider Softcat has been ‘re-doubling’ on its cyber defences amid Russia’s invasion of Ukraine, its CEO confirmed today.
The company has been supporting customers with the heightened risk of cyber attacks, CEO Graeme Watt said in a statement, adding that “we are closely evaluating and managing any business risks that may arise as events further unfold”.
Softcat’s revenue climbed more than a third to £771m in the six months to 31 January, up from £577m in the same period a year prior.
Operating profit also jumped over 12 per cent from £57m to £64m in the period, which the company hailed as “ahead of expectations” in its latest set of financial results today.
The London-listed firm’s interim dividend inched slightly higher to 7.3p, alongside earnings per share which rose to 26.2p.
While operating in the IT space, Softcat has not been immune to the supply chain disruptions that have riddled business logistics.
The company reported a “manageable” but “modest backlog” of hardware orders, which it expects to gradually unwind over the course of this coming financial year.
Watt added: “Transaction numbers grew strongly as we saw more customers emerge from the impacts of the pandemic.
“Component shortages have not worsened but nor have they improved so our order backlog is building somewhat. However, the situation remains manageable and to put things into perspective, only a portion of our hardware portfolio is impacted.”
It comes as the IT firm posts a former Selfridges and Carphone Warehouse director to its board.
Lynne Weedall, who steps onto the board at the beginning of May, will join as an independent non-executive director, and will maintain her other board roles with Dr. Martens and Stagecoach.