Bytes Technology Group PLC Half Year Trading Update (5872N)
26 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMBYIT
RNS Number : 5872N
Bytes Technology Group PLC
26 September 2023
26 September 2023
Bytes Technology Group plc
("BTG" or "the Company")
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 GBP51.3 million,
after paying GBP30 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFLFERAVIEFIV
(END) Dow Jones Newswires
September 26, 2023 02:00 ET (06:00 GMT)
Bytes Technology (LSE:BYIT)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Bytes Technology (LSE:BYIT)
Gráfica de Acción Histórica
De May 2023 a May 2024