Bytes Technology Group (BYIT)

Sector:

IT Services

Index:

FTSE 250

439.60p
   
  • Change Today:
      18.60p
  • 52 Week High: 578.50
  • 52 Week Low: 399.00
  • Currency: UK Pounds
  • Shares Issued: 239.48m
  • Volume: 272,492
  • Market Cap: £1,052.76m

Bytes Technology trading ahead of expectations

By Michele Maatouk

Date: Wednesday 16 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Software and cloud services specialist Bytes Technology hailed "another upbeat year" on Wednesday as it said results were ahead of expectations.
In an update on trading in the year to 28 February 2022, the group reported double-digit growth in its three key financial performance metrics with accelerated growth in the second half of the year.

Growth in Gross Invoiced Income was "robust", it said, up more than 26% to around £1.2bn. Gross profit grew about 20%, while adjusted operating profit was 23% higher.

Bytes said cash collections continued to be strong and cash conversion will be "well over 100%", with cash on the balance sheet of £68m at year end.

Chief executive officer Neil Murphy said: "We continue to build positive momentum in our business as we further invest in new talent and maintain our focus on customer service. The last year has seen Bytes continuing to strengthen its market position in cloud, security and annuity software and services, working with some of the world's most successful software companies.

"We are making good progress with our strategy and are well positioned to deliver on the significant opportunity ahead of us."

The company's preliminary results for the financial year are due on 24 May.

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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 439.60p
Change Today 18.60p
% Change 4.42 %
52 Week High 578.50
52 Week Low 399.00
Volume 272,492
Shares Issued 239.48m
Market Cap £1,052.76m

BYIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.51% below the market average87.51% below the market average87.51% below the market average87.51% below the market average87.51% below the market average
80.85% below the sector average80.85% below the sector average80.85% below the sector average80.85% below the sector average80.85% below the sector average
Price Trend
19.18% below the market average19.18% below the market average19.18% below the market average19.18% below the market average19.18% below the market average
11.93% above the sector average11.93% above the sector average11.93% above the sector average11.93% above the sector average11.93% above the sector average
Income
11.37% below the market average11.37% below the market average11.37% below the market average11.37% below the market average11.37% below the market average
15.15% below the sector average15.15% below the sector average15.15% below the sector average15.15% below the sector average15.15% below the sector average
Growth
19.32% above the market average19.32% above the market average19.32% above the market average19.32% above the market average19.32% above the market average
38.61% above the sector average38.61% above the sector average38.61% above the sector average38.61% above the sector average38.61% above the sector average

BYIT Dividends

  Latest Previous
  Final Special
Ex-Div 28-Jul-22 28-Jul-22
Paid 12-Aug-22 12-Aug-22
Amount 4.20p 6.20p

Trades for 24-Jun-2022

Time Volume / Share Price
16:35 1,431 @ 439.60p
16:35 111,031 @ 439.60p
16:29 697 @ 441.60p
16:29 110 @ 440.60p
16:29 104 @ 441.40p

BYIT Key Personnel

Chair Patrick De Smedt
CEO Neil Murphy
CFO Andrew Holden

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