| Tue 26 Sep 2023, 8:00 | | BYTES TECHNOLOGY GROUP PLC - Half Year Trading Update |
|
Half Year Trading Update
Bytes Technology Group plc
(Incorporated in England and Wales)
(Registered number: 12935776)
LEI: 213800LA4DZLFBAC9O33
Share code: BYI
ISIN: GB00BMH18Q19
(“BTG” or “the Company”)
26 September 2023
Half Year Trading Update
Bytes Technology Group, one of the UK and Ireland's leading software, security and cloud services
specialists, is pleased to provide the following update on trading for its financial half year ended 31
August 2023 ("H1 FY24").
The Company continued to trade strongly during the first half of the financial year with notable year-on-
year growth in Gross Invoiced Income. This was achieved alongside continued growth in Gross Profit
and Adjusted Operating Profit, both growing comfortably in double digits. This reflects BTG’s continued
market share gains in both corporate and public verticals.
Our net cash position at the end of H1 FY24 was £51.3 million, after paying £30 million of final and
special dividends in the period. Cash conversion in the first half reflects our normal weighting to the
second half, with strong cash conversion expected for the full year.
BTG expects to release its half year results for FY24 on 25 October 2023.
Neil Murphy, Chief Executive Officer, commented: “We continue to demonstrate the strength of our
business model by again delivering double digit growth amid challenging macroeconomic conditions.
The positive start to our financial year, coupled with ongoing investment in our operations, positions us
well for the rest of the year.”
-Ends-
Enquiries:
Bytes Technology Group
Neil Murphy, Chief Executive Officer
Andrew Holden, Chief Financial Officer
Tel: +44 (0)1372 418 500
Headland Consultancy
Stephen Malthouse
Henry Wallers
Jack Gault
Tel: +44 (0) 20 3805 4822
Email: bytes@headlandconsultancy.com
About Bytes Technology Group plc:
BTG is one of the UK and Ireland's leading providers of IT software offerings and solutions, with a focus
on cloud and security products. The Company enables effective and cost-efficient technology sourcing,
adoption and management across software services, including in the areas of security, cloud and AI
solutions. It aims to deliver the latest technology to a diverse and embedded non-consumer customer
base and has a long track record of delivering strong financial performance.
The Company has a primary listing on the Main Market of the London Stock Exchange and a secondary
listing on the Johannesburg Stock Exchange.
Sponsor
Investec Bank Limited
Date: 26-09-2023 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
