REG - Bytes Technology Grp - AGM Statement

Bytes TechnologyAnnouncement

11/07/2024 07:00

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RNS Number : 9392V  Bytes Technology Group PLC  11 July 2024

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:blank)

 

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.

 

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