Softcat plc (SCT) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everybody and welcome to the Softcat results presentation for the year-ended 31st of July 2024. I'm Graeme Charlton, the Chief Exec of Softcat and I'm joined today by our CFO Katie Mecklenburg who you'll hear from very shortly. But before I hand to Katie I will run to run through the financial results from last year. I'll start with a brief reminder of who we are and what we do. Then once you've heard from Katie I'll be back to give you an update on the evolution of our strategy. So, who are we and what do we do? Softcat is today the largest provider in the UK and Ireland in what's known as the VAR space, so the value-added reseller space of IT solutions. That covers cybersecurity, hybrid cloud infrastructure... networking, workplace technologies and so on, and across hardware, software and services. So it's a tremendously broad and well diversified offering across the full scope of the modern IT environment. And we've grown to that position as number one in the UK entirely organically from a standing start 31 years ago. And in the most recent decade of that history, we have a 10-year average growth rate of over 15%. for both gross profit, our primary measure of income, and operating profit. We work with the biggest and best-known IT vendors globally, and to each of these we are the largest or at least one of their largest partners in our domestic markets. And we are also actively sought out by all of the up-and-coming vendors as a primary route into the lucrative and growing UK and Irish technology markets. This gives us a fantastic visibility across the very latest IT solutions and customer demand trends. And our customer base is incredibly diverse, with over 10,000 recurring annual customers now from the mid-market through to enterprise and from the c...