BYTES TECHNOLOGY GROUP PLC - Full Year Trading Update

Bytes Technology Group plc
(Incorporated in England and Wales)
(Registered number: 12935776)
LEI: 213800LA4DZLFBAC9O33
Share code: BYI
ISIN: GB00BMH18Q19
('BTG' or 'the Group')


22 March 2023

Full Year Trading Update



Bytes Technology Group plc ('BTG' or 'the Group'), one of the UK's leading software, security and
cloud services specialists, is pleased to provide the following update on trading for its financial year
ended 28 February 2023 ('FY23').


The Group once again delivered strong sales and profit growth. As anticipated, cash conversion
returned to higher levels in the second half to end the full year at around 85%, and with a cash balance
of around #73m.


Gross Profit and Adjusted Operating Profit for the full year will both be approximately 20% up on the
prior year. This reflects the very strong demand for software and IT Services we continued to see from
both corporate and public sector clients, despite the well-documented macroeconomic headwinds. With
ongoing support from vendors, long standing and strong relationships with our customers, and the hard
work of our loyal employees, we remain confident in our continuing ability to deliver double-digit growth.


BTG expects to release its preliminary results for the full year on 23 May 2023.


Neil Murphy, Chief Executive Officer, commented: 'We are delighted with the performance delivered
last year. Our successful strategy of acquiring new customers and then growing share of wallet,
underpinned by strong vendor relationships and the commercial skills of our people, means we are well-
placed to capture the significant growth opportunities ahead of us.'

                                             

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 Group 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 Group has a primary listing on the Main Market of the London Stock Exchange and a secondary
listing on the Johannesburg Stock Exchange.

Sponsor
Investec Bank Limited

Date: 22-03-2023 09:00:00

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