(Reuters) -British IT firm Softcat lifted its annual profit growth forecast for the third time in six months on Thursday, driven by execution of larger contracts in the fourth quarter.

Shares rose 2.3% to 1,600 pence in morning trade and were among the top gainers on the FTSE mid-cap index.

The IT services and infra provider is benefitting from a broader shift in customer spending, as rising corporate investment in artificial intelligence and automation fuels demand, helping the firm sustain growth beyond recurring and one-off projects.

The company now estimates mid-teens percentage growth in operating profit for the year ended July 2025, compared with its earlier forecast of a low-teens percentage increase.

Excluding the boost from major projects this year, Softcat expects its operati

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