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AGM Statement
Bytes Technology Group plc
(Incorporated in England and Wales)
(Registered number: 12935776)
LEI: 213800LA4DZLFBAC9O33
Share code: BYI
ISIN: GB00BMH18Q19
(‘BTG’, ‘the Company’)
12 July 2023
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.
Sponsor
Investec Bank Limited
Date: 12-07-2023 08:00:00
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