Bytes Technology Group (BYIT)

Sector:

IT Services

Index:

FTSE 250

513.50p
   
  • Change Today:
      3.50p
  • 52 Week High: 657.00
  • 52 Week Low: 373.00
  • Currency: UK Pounds
  • Shares Issued: 240.36m
  • Volume: 237,811
  • Market Cap: £1,234.23m

Bytes trades 'strongly' in H1

By Iain Gilbert

Date: Tuesday 26 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Software firm Bytes said on Tuesday that it had continued to trade "strongly" the six months ended 31 August, building on its "robust" maiden full-year results in May 2021 and a "positive start" to the financial year.
Bytes stated that it had delivered year-on-year low-teens percentage growth in gross profit during the first half, as well as high-teens growth in adjusted operating profit, driven by "strengthening" corporate sector demand and continued growth from the public sector.

The FTSE 250-listed firm added that cash collections and conversion had also remained "very strong" and that operating expenses had also benefitted from ongoing efficiencies.

Chief executive Neil Murphy said: "We are pleased with our first-half performance, with the twin benefits of strengthening corporate demand and continued growth in public sector spend ensuring we closed out the period ahead of expectations.

"Whilst uncertainty remains due to the ongoing impact of the pandemic, we're confident that our deep understanding of customers' needs and strong relationships with vendors means we're well-positioned to enhance our market share and to continue delivering against our strategy."

Separately, Bytes revealed that chief financial officer Keith Richardson would be retiring from its board after almost three decades with the company. He will be replaced by chief operating officer Andrew Holden, with immediate effect.

As of 0835 BST, Bytes shares were down 0.76% at 522.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BYIT Market Data

Currency UK Pounds
Share Price 513.50p
Change Today 3.50p
% Change 0.69 %
52 Week High 657.00
52 Week Low 373.00
Volume 237,811
Shares Issued 240.36m
Market Cap £1,234.23m

BYIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
89.52% below the market average89.52% below the market average89.52% below the market average89.52% below the market average89.52% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average
Price Trend
66.29% above the market average66.29% above the market average66.29% above the market average66.29% above the market average66.29% above the market average
55.32% above the sector average55.32% above the sector average55.32% above the sector average55.32% above the sector average55.32% above the sector average
Income
6.82% below the market average6.82% below the market average6.82% below the market average6.82% below the market average6.82% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Growth
6.52% below the market average6.52% below the market average6.52% below the market average6.52% below the market average6.52% below the market average
29.55% below the sector average29.55% below the sector average29.55% below the sector average29.55% below the sector average29.55% below the sector average

BYIT Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Nov-23 20-Jul-23
Paid 01-Dec-23 04-Aug-23
Amount 2.70p 5.10p

Trades for 28-Mar-2024

Time Volume / Share Price
10:59 30 @ 513.50p
10:59 61 @ 513.50p
10:59 19 @ 510.50p
10:59 61 @ 511.00p
10:59 61 @ 511.00p

BYIT Key Personnel

Chair Patrick De Smedt
CFO Andrew Holden
CEO Sam Mudd

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