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Softcat expects to profit from AI demand

The IT services company has maintained its double-digit gross profit growth, despite a post-Covid slowdown
March 26, 2024
  • Dividend increased 6 per cent
  • AI expected to drive growth next year

The IT services businesses are in the gap between pandemic-driven investment and the expected arrival of artificial intelligence (AI).

Softcat (SCT) benefited from the enforced work-from-home shift during the pandemic. Companies needed to update both their hardware and software to accommodate this change. In the year to July 2022, gross invoiced income rose 29 per cent, driven by a 43 per cent increase in hardware income.

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