Softcat plc (LON:SCT), a leading UK provider of IT infrastructure products and services, has announced its full year results for the twelve months to 31 July 2026.
These results reflect another outstanding performance and further significant strategic progress underpinned by continued investment to support future growth. The Group delivered strong growth in gross invoiced income, gross profit and underlying operating profit, along with excellent cash generation. Post year-end we announced the acquisition of GDT, which will add significant capability in the US, strengthening our ability to serve customers with international requirements and provide a global platform for long-term growth.
| Financial Summary | Year ended | ||
| 31 July | 31 July | ||
| 2026 | 2025 | Change | |
| £m | £m | ||
| Gross invoiced income[1] | 4,719.7 | 3,617.0 | 30.5% |
| Gross profit | 616.3 | 494.3 | 24.7% |
| Underlying operating profit1 | 215.1 | 180.1 | 19.4% |
| Underlying cash conversion (%)1 | 93.6% | 95.6% | (2.0)ppts |
| Underlying basic earnings per share (p)1 | 83.2p | 69.5p | 19.7% |
| Total ordinary dividend (p)* | 31.5p | 29.3p | 7.5% |
| Final ordinary dividend (p) | 21.6p | 20.4p | 5.9% |
| Special dividend (p) | – | 16.1p | |
| Statutory measures | |||
| Revenue[2] | 1,975.1 | 1,458.4 | 35.4% |
| Operating profit | 196.4 | 172.9 | 13.6% |
| Basic earnings per share (p) | 75.8 | 66.6p | 13.8% |
Highlights for the year ended 31 July 2026
- Gross invoiced income1 growth of 30.5% driven by very strong, broad-based performance together with the contribution from larger solutions projects.
- Gross profit growth of 24.7%, with strong underlying progress across all technology areas and customer groups and exceptional performance in corporate.
- Underlying operating profit1 growth of 19.4%, with significant investment during the year in our people, capabilities, systems, data and office network to support future growth.
- Statutory operating profit of £196.4m, up 13.6% year-on-year, after £18.7m of non-underlying costs recognised during the year, mainly relating to the new sales system investment.
- Underlying cash conversion1 of 93.6%, with closing net cash and cash equivalents of £199.9m (FY2025: £182.3m).
- A final ordinary dividend of 21.6p, resulting in a full year dividend of 31.5p*, up 7.5%, together with a £45m share buyback completed in February 2026, bringing the total cash returned to shareholders in the year to £137.5m.
- Outlook: Looking ahead, and excluding the contribution from GDT, business momentum remains strong and the Board expects to deliver high single-digit underlying operating profit growth in FY2027, slightly ahead of gross profit growth following very strong two-year growth across FY2025 and FY2026.
Graham Charlton, Softcat CEO, commented,
“Softcat delivered outstanding performance in FY2026, continuing the momentum established in the first half. Growth in gross profit and underlying operating profit came in significantly ahead of our expectations at the start of the year, reflecting the strength of our culture, the quality of our customer relationships and the benefits of the sustained investment we have made over many years in our people, capabilities, systems and data. The trusted advice, technical capability and exceptional service we provide continue to differentiate our offering and build long-term credibility and loyalty with customers.
AI is one of several factors making IT infrastructure more critical, complex and strategically important for our customers’ operations. While applications evolve and embed AI functionality, infrastructure foundations are being developed to cope with the rise in demand for compute, storage, faster and more resilient networks, better data architecture, greater security and stronger governance. At the same time, memory chip supply constraints have added complexity to pricing, availability and planning. This is exactly the sort of environment in which Softcat’s strengths shine brightest. Customers remain disciplined with their investments, but they continue to spend on technology, and they need our advice, technical capability, vendor reach and proven execution capabilities more than ever.
Post year-end, we announced the acquisition of GDT[3], a leading US-based multi-vendor IT solutions provider. This is a significant strategic step for Softcat, giving us enhanced capability in the US and strengthening our ability to serve customers with international requirements. GDT will strengthen our foundations for long-term growth, alongside and in combination with, our existing UK and Ireland business. We are very encouraged by how well received the transaction has been by customers, vendors and employees alike.
The opportunity for Softcat is as exciting as ever. With our special culture, broad proposition, deep customer relationships and growing international capability, we remain very well positioned to deliver sustainable growth and further market share gains.”
Outlook
Softcat operates in a significant and growing market and continues to invest to drive further market share gains. Looking ahead, and excluding the contribution from GDT, business momentum remains strong and the Board expects to deliver high single-digit underlying operating profit growth in FY2027, slightly ahead of gross profit growth, following very-strong two-year growth across FY2025 and FY2026.
Analyst and investor call
The management team will host an investor and analyst conference call at 9.30am UK time, on Wednesday, 14 October 2026. To join the conference call, please use the following webcast link:
https://brrmedia.news/SCT_FY26
Please register approximately 10 minutes prior to the start of the call.
