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24 March 2021 Softcat SOFTCAT plc ( " Softcat " , the " Company " ) Half Year Results for the six months to 31 January 2021 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 2021 ( " the period " ) . The results reflect another period of strong profit growth and cash generation . Financial Summary 31 January 2021 Six months ended 31 January 2020 Growth £ m £ m % Revenue¹ 577.0 524.1 10.1 Gross invoiced income² 870.8 727.7 19.7 Gross profit 134.5 111.7 20.4 Operating profit 57.1 40.5 41.0 Cash conversion³ 88 % 100 % n / a Interim dividend ( p ) 4 6.4p 5.4p 18.5 Earnings per share ( p ) 23.3p 16.7p 39.5 Diluted earnings per share ( p ) 23.2p 16.6p 39.8 Highlights for the six months to 31 January 2021 • Strong double - digit income growth : • • • Gross profit , our key measure of income , grew 20 % о Gross invoiced income ( GII ) also up 20 % о Revenue up 10 % Operating profit increased by 41 % reflecting the strong top line performance combined with Covid - related operating cost savings . Continued investment in our people and technical proposition throughout the pandemic has driven double - digit growth in average gross profit per customer from both new and existing customers . The customer base rose 1.5 % to 9,600 despite the ongoing challenges of remote working . Headcount increased to 1,658 at the end of the period ; a rise of 177 ( 12 % ) over the past 12 months . Cash conversion and debt collection remain strong . An interim dividend of 6.4p per share , up 18.5 % , will be paid on 14 May 2021 with the shares trading ex - dividend on 31 March 2021 . Outlook : the second half has begun well and the Board is confident the Company will deliver a full year result significantly ahead of its previous expectations . 1 Revenue is reported under IFRS 15 , the international accounting standard for revenue for both FY20 and FY21 . 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 . 2 Gross invoiced income ( GII ) reflects gross income billed to customers adjusted for deferred and accrued revenue items . 3 Cash conversion is defined as cash flow from operations before tax but after capital expenditure , as a percentage of operating profit . 4 The interim dividend of 5.4p , declared but subsequently cancelled in March 2020 , was reinstated as part of the prior year final dividend of 16.6p . 1