Bytes Technology Group (BYIT) Trading update summary

Financial performance

• Gross Invoiced Income for H1 FY27 estimated to rise by approximately 19% year-on-year.

• Gross Profit expected to increase by about 18%, with Operating Profit up by around 6%.

• Operating Profit growth reflects higher technology costs and normalized bonus levels.

• Net cash position at H1 FY27 end was about £68m after £41.3m returned to shareholders.

• Cash conversion for H1 was around 45%, up from 34% in H1 FY26.

Guidance and outlook

• Full-year Gross Profit growth now expected in the low to mid-teens percentage range.

• Full-year Operating Profit growth forecasted in the low to mid single-digit range.

• FY27 guidance upgraded due to strong first half performance.

Strategic and operational highlights

• Continued strong demand for software, cloud, and security solutions, with AI becoming a key growth driver.

• Ongoing investment in technology platforms and workforce to support future growth.

• Confidence maintained in strategy and customer/vendor relationships.