Business
Half Year Results
Half Year Results.
About this update from Softcat Plc
[{"type":"text","content":"\n \n \n RNS Number : 3657G\n Softcat PLC\n 17 March 2020\n \n \n \n \n 17 March 2020\n \n \n SOFTCAT plc\n \n \n (\"Softcat\", the \"Company\")\n \n \n Half Year Results for the six months to 31 January 2020\n \n \n Softcat plc (LSE: SCT.L), a leading UK provider of IT infrastructure products and services, today publishes its half year results for the six months to 31 January 2020 (\"the period\"). The results reflect another period of strong profit growth and excellent cash generation.\n \n \n \n \n \n \n Financial Summary\n \n \n \n \n Six months ended\n \n \n \n \n \n \n \n \n \n \n \n \n 31 January\n \n \n \n \n 31 January\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2020\n \n 4\n \n \n \n \n 2019\n \n \n \n \n Growth\n \n \n \n \n \n \n \n \n \n £m\n \n \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 \n \n \n \n \n \n Revenue\n \n 1\n \n \n \n \n 524.1\n \n \n \n \n 434.0\n \n \n \n \n 20.8\n \n \n \n \n \n \n \n Gross invoiced income\n \n 2\n \n \n \n \n 727.7\n \n \n \n \n 607.8\n \n \n \n \n 19.7\n \n \n \n \n \n \n Gross profit\n \n \n \n \n 111.7\n \n \n \n \n 94.7\n \n \n \n \n 18.0\n \n \n \n \n \n \n Operating profit\n \n \n \n \n 40.5\n \n \n \n \n 33.9\n \n \n \n \n 19.5\n \n \n \n \n \n \n \n Cash conversion\n \n 3\n \n \n \n \n 100%\n \n \n \n \n 103%\n \n \n \n \n n/a\n \n \n \n \n \n \n Interim dividend (p)\n \n \n \n \n 5.4p\n \n \n \n \n 4.5p\n \n \n \n \n 20.0\n \n \n \n \n \n \n Earnings per share (p)\n \n \n \n \n 16.7p\n \n \n \n \n 13.9p\n \n \n \n \n 20.1\n \n \n \n \n \n \n Diluted earnings per share (p)\n \n \n \n \n 16.6p\n \n \n \n \n 13.8p\n \n \n \n \n 20.3\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 1\n Revenue is reported under IFRS 15, the international accounting standard for revenue for both FY19 and FY20. IFRS 15 requires finely balanced judgements be made to determine whether Softcat acts as principal or agent in certain trading transactions. The judgement inherent in the application of IFRS 15, coupled with slight variations of business model between IT Solutions Providers, means the impact of IFRS 15 across the peer group is not uniform. Income prior to the IFRS 15 adjustment is referred to as gross invoiced income.\n \n \n 2\n Gross invoiced ...