Business
Half-year Report
Softcat plc reported an exceptional first half performance for the six months ending 31 January 2026, with gross invoiced income increasing by 33.3% to £2,008.6 million and gross profit rising by 22.6% to £269.9 million. Underlying operating profit saw a significant 27.3% increase to £93.8 million, leading the company to upgrade its full-year guidance to high single-digit growth from low single-digit previously. The company also demonstrated robust cash generation with underlying cash conversion at 147.6%, and announced an interim dividend of 9.9p per share, up 11.2%. These strong results are attributed to broad-based growth, strategic investments, and increasing customer demand for AI-enabled infrastructure. Disclaimer*
About this update from Softcat Plc
[{"type":"text","content":"\n\nSOFTCAT plc\n('Softcat', the 'Group')\n \nHalf year results for the six months to 31 January 2026\n \nExceptional first half performance resulting in full year guidance upgrade\n \nSoftcat plc (LSE: SCT.L), a leading UK provider of IT infrastructure products and services, today announces its half year results for the six months to 31 January 2026 ('the period'). These results reflect another period of successful execution and strategic progress, delivering exceptional growth in gross profit and underlying operating profit alongside robust cash generation and investments to drive future growth. This first half performance was driven by broad-based growth and enables us to upgrade underlying operating profit guidance for the full year.\n \n \n\n\n\n\nFinancial Summary\n\n\nSix months ended\n\n\n \n\n\n\n\n\n\n\n31 January\n\n\n31 January\n\n\n \n\n\n\n\n\n\n\n2026\n\n\n2025\n\n\nChange\n\n\n\n\n\n\n\n£m\n\n\n£m\n\n\n \n\n\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nGross invoiced incomea\n\n\n2,008.6\n\n\n1,507.1\n\n\n33.3%\n\n\n\n\nGross profit\n\n\n269.9\n\n\n220.2\n\n\n22.6%\n\n\n\n\nUnderlying operating profita\n\n\n93.8\n\n\n73.7\n\n\n27.3%\n\n\n\n\nUnderlying cash conversion (%)a\n\n\n147.6%\n\n\n110.9%\n\n\n36.7ppts\n\n\n\n\nUnderlying basic earnings per share (p) a\n\n\n36.1p\n\n\n28.7p\n\n\n25.8%\n\n\n\n\nInterim dividend (p)\n\n\n9.9p\n\n\n8.9p\n\n\n11.2%\n\n\n\n\nStatutory measures\n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue b\n\n\n837.5\n\n\n545.6\n\n\n53.5%\n\n\n\n\nOperating profit\n\n\n85.2\n\n\n73.7\n\n\n15.6%\n\n\n\n\nBasic earnings per share (p)\n\n\n32.8p\n\n\n28.7p\n\n\n14.3%\n\n\n\n\n \n \nHighlights for the six months to 31 January 2026\n\n\n\n\n●\n\n\nGross invoiced income growth of 33.3% reflects strong, broad-based performance and the contribution from larger solutions projects, together with a pull forward of some customer orders due to memory shortages.\n\n\n\n\n●\n\n\nStrong double-digit gross profit growth of 22.6%, delivered by good progress across all technologies and customer groups, with exceptional performance from the corporate segment.\n\n\n\n\n●\n\n\nThe performance was underpinned by our investments over the last few years in headcount, capabilities, systems and data, and we continue to further modernise our operations, with...