11
July 2024
Bytes Technology Group
plc
("BTG" or
"the Company" or "the Group")
AGM
Statement
Bytes Technology Group, one of the
UK's leading software, security, cloud and AI services specialists,
is holding its Annual General Meeting at 14:00
(BST) today. Ahead of the meeting, the Board issues the
following brief update on trading.
The Group has continued to trade
well against the backdrop of a competitive market environment, with
good growth across its key financial performance metrics for the
first four months of the financial year. Percentage growth in both
Gross Invoiced Income and Adjusted Operating Profit has been
comfortably in double digits, with Gross Profit growth in the high
single digits as a result of an increased weighting towards high
volume, lower margin software wins in the period.
Sam
Mudd, Chief Executive Officer, said:
The overall performance of the
business was again driven by strong and stable demand from both
corporate and public sectors for our market-leading, supported and
secure IT systems. We remain confident that our continued strong
vendor partnerships and first-rate client service position us well
to achieve our strategic goals for the year."
-Ends-
Enquiries:
Bytes Technology Group plc
Sam Mudd, 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's leading providers of IT software offerings and
solutions, with a focus on cloud, security and AI
products. The Company enables effective and
cost-efficient technology sourcing, adoption and management across
software services, including in the areas of security and cloud. 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.