Channels -> Resellers
Released: 1st August 2013
Marlow, UK, 01 August 2013 – Softcat closed its financial year yesterday, July 31st, with revenues leaping up to approximately £400M*, well above expectations. This represents over 30% growth on the revenue of £307M reported for the same period last year. All aspects of the business performed strongly but the growth rates in public sector, managed services, security and networking were well above company average.
In just the last three financial years, the company has grown from £146M to £400M. This has been achieved entirely organically.
As usual, unaudited profits numbers will not be released at this time, but profit levels are expected to also show strong growth when published.
Two hundred new employees joined the organisation in the financial year, well over half of whom joined the company on the graduate programme. Total staff numbers reached approximately 600 at year-end. In the Best Workplaces league table, Softcat achieved 4th place in the UK and 10th in Europe. The company was also named as the Thames Valley Business of the Year and Management Team of the Year.
Retention of existing customers and growth of business from existing customers remained extremely high with the company recording a 99.2% customer satisfaction rating for the second year in succession. In addition, the company traded with nearly 2,000 new customers in the last year, a new record for the company.
Softcat won a plethora of industry awards including CRN Reseller of the Year for the third year in a row, Canalys EMEA Reseller of the Year, HP EMEA Excellence award, and Microsoft Worldwide licensing Partner of the Year finalist, as well as receiving a large number of UK Partner of the Year awards from HP, Mimecast, NetApp, Veeam, EMC, VMware, Sophos, Kaspersky and Snow.
During the course of the last financial year, Colin Brown became Softcat MD and Martin Hellawell, former MD, became Chairman.
Martin Hellawell commented, “This has probably been our best year yet. Colin and his team have done an outstanding job sticking to our core principles of aiming to be a great place to work for our employees and striving to be a consistently great company to do business with for our customers. I am delighted with the results delivered by the entire Softcat team.”
Colin Brown added, “This has been a fantastic first year for me at Softcat. To deliver these kind of results in a flat market, entirely organically, is really quite something. This gives us great encouragement to invest further in the business to continue the journey onwards and upwards.”
Softcat (www.softcat.com) is a leading provider of software licensing, hardware, security and related IT services. Softcat, founded in 1993 by the then chairman and majority shareholder Peter Kelly, remains privately owned and currently employs 600 people. It achieved a turnover in excess of £400 million in its last financial year and has been profitable since inception, resulting in a strong balance sheet and very firm financial foundations.
The company sells and supports products and solutions from all the world's leading IT companies. On all its portfolio products and solutions it offers a full range of services, including advice and guidance, technical design, product sourcing, implementation, support and project management. It enjoys a trading relationship with over 5,000 longstanding customers, predominantly from the UK corporate sector but also including large enterprises, small businesses and public sector organisations.
As an organisation Softcat cares passionately about two things – outstanding employee satisfaction and world-class customer service. It believes the former drives the latter.
Published by: IT Analysis Communications Ltd.
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