Enhanced Investments - Financial Portal

Half Year Trading Update

Published: 2023-09-26 09:00:46 ET

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


26 September 2023


                                      Half Year Trading Update

Bytes Technology Group, one of the UK and Ireland's leading software, security and cloud services
specialists, is pleased to provide the following update on trading for its financial half year ended 31
August 2023 ("H1 FY24").

The Company continued to trade strongly during the first half of the financial year with notable year-on-
year growth in Gross Invoiced Income. This was achieved alongside continued growth in Gross Profit
and Adjusted Operating Profit, both growing comfortably in double digits. This reflects BTG’s continued
market share gains in both corporate and public verticals.

Our net cash position at the end of H1 FY24 was £51.3 million, after paying £30 million of final and
special dividends in the period. Cash conversion in the first half reflects our normal weighting to the
second half, with strong cash conversion expected for the full year.

BTG expects to release its half year results for FY24 on 25 October 2023.

Neil Murphy, Chief Executive Officer, commented: “We continue to demonstrate the strength of our
business model by again delivering double digit growth amid challenging macroeconomic conditions.
The positive start to our financial year, coupled with ongoing investment in our operations, positions us
well for the rest of the year.”

                                                 -Ends-

Enquiries:

Bytes Technology Group
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 and Ireland'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, cloud and AI
solutions. 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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.