Business
Half Yearly Report
Half Yearly Report.
About this update from Softcat Plc
[{"type":"text","content":"\n \nRNS Number : 3520S Softcat PLC 17 March 2016 \n\nSOFTCAT plc\n \n(\"Softcat\", the \"Company\")\n \nInterim Results for the six months to 31 January 2016\n \nSoftcat plc (LSE: SCT.L), a leading UK provider of IT infrastructure products and services, today publishes its first set of interim results to 31 January 2016, following successful completion of its Initial Public Offering ('IPO') on 18 November 2015. The results demonstrate strong gross and operating profit performance during this period.\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\n2016\n\n\n2015\n\n\n \n\n\n\n\n \n\n\n£'000\n\n\n£'000\n\n\n%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n293,591\n\n\n265,820\n\n\n10.4\n\n\n\n\nGross profit\n\n\n53,675\n\n\n46,639\n\n\n15.1\n\n\n\n\nAdjusted operating profit*\n\n\n19,527\n\n\n17,292\n\n\n12.9\n\n\n\n\nOperating profit\n\n\n15,328\n\n\n17,233\n\n\n(11.1)\n\n\n\n\nNet cash\n\n\n54,881\n\n\n37,407\n\n\n46.7\n\n\n\n\nInterim dividend (p)\n\n\n1.70p\n\n\nn/a\n\n\nn/a\n\n\n\n\nDiluted earnings per share (p)\n\n\n6.07p\n\n\n6.99p\n\n\n(13.2)\n\n\n\n\nAdjusted diluted earnings per share** (p)\n\n\n8.18p\n\n\n7.02p\n\n\n16.5\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n*Adjusted operating profit is defined as operating profit before exceptional items and share-based payment charges. See page 8.\n**Adjusted diluted earnings per share is defined as profit after tax before exceptional items and share based payment charges divided by the weighted average number of shares including the dilutive effect of share options. See page 16.\n \n \nHighlights for the six months to 31 January 2016\n \n· Gross profit up 15.1% to £53.7m (H1 2015: £46.6m)\n· Gross profit margin up 0.8% pts to 18.3% (H1 2015: 17.5%)\n· Adjusted operating profit up 12.9% to £19.5m (H1 2015: £17.3m)\n· Cash conversion was strong at 142% (defined as cash flow from operations before tax but after capital expenditure, as a percentage of operating profit)\n· The Company remains debt free with a cash balanc...