UK provider of IT infrastructure Softcat said today it is likely to report operating profit ahead of expectations in its full-year results.
Shares spiked following the news and were up 8.3 per cent at the time of writing.
In a trading update ahead of its year end on 31 July, Softcat said the company had continued to perform “exceptionally well”, following a strong third quarter.
Read more: Softcat prices IPO at 240p
“Market conditions have been very favourable and growth against prior year has accelerated,” it said.
It said it now expects full-year 2018 adjusted operating profit will be “materially ahead” of its previous expectations.
Preliminary results are scheduled for release on 17 October.
Read more: Tech firm Softcat eyes a London listing
Buckinghamshire-headquartered Softcat floated in London in late 2015 with a value of £472.3m.
It provides datacentre, networking and security systems alongside the services needed to design and support them either locally or in the cloud.