Bytes Technology Group (BYIT) Trading Update summary

Trading performance

• Gross Invoiced Income and Adjusted Operating Profit grew by approximately 13.5% each in H1 FY25.

• Gross Profit increased by around 9% during the same period.

• Strong trading trends from the previous update continued throughout the half year.

Financial position

• Net cash position at the end of H1 FY25 was £71.5 million after paying £35.3 million in dividends.

• Cash conversion in H1 reflects normal seasonality, with stronger conversion expected in H2.

Strategic outlook

• Management remains confident in the growth strategy and market positioning.

• Structural demand drivers include cloud computing, cyber security, and AI.

• The company is set to release half year results for FY25 on 15 October 2024.