Bytes Technology Group PLC AGM Statement (6922F)
July 12 2023 - 1:00AM
UK Regulatory
TIDMBYIT
RNS Number : 6922F
Bytes Technology Group PLC
12 July 2023
12 July 2023
Bytes Technology Group plc
('BTG' or 'the Company')
AGM Statement
Bytes Technology Group, one of the UK's leading software,
security and cloud 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.
Since the release of the Group's full-year results on 23 May
2023, the business has continued to trade strongly, and we are
seeing resilient demand and pleasing win-rates across both the
corporate and public sectors. The Company has performed well across
its key financial performance metrics, with percentage growth in
Gross Profit and Adjusted Operating Profit comfortably in double
digits for the first four months of the financial year. Percentage
growth in Gross Invoiced Income significantly exceeded the increase
in Gross Profit as a result of a number of high volume, lower gross
margin software wins in the period.
Neil Murphy, Chief Executive Officer, said:
"We're pleased with the progress we have made so far this year
in executing against our strategy and continuing to expand our
market share. Whilst we remain mindful of macroeconomic headwinds,
these have not had a noticeable impact on our trading performance
to date, and we are confident that our leading vendor partnerships
and first-rate client service leave us well positioned to make
further progress this year."
-Ends-
Enquiries:
Bytes Technology Group plc
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'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 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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END
AGMSFIFLFEDSESW
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