BYTES TECHNOLOGY GROUP PLC - Full Year Trading Update

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

Bytes Technology Group plc
Full Year Trading Update

18 March 2025


Double-digit growth in key metrics takes GII to well over #2bn


Bytes Technology Group plc ("BTG" or "the Group"), one of the UK and Ireland's leading software,
security, AI and cloud services specialists, is pleased to report another year of strong performance for
the financial year ended 28 February 2025 ("FY25").


The Group once again delivered double-digit growth in its key financial metrics, gross invoiced income,
gross profit and operating profit, demonstrating the strength of our business model and market
positioning. Gross invoiced income comfortably exceeded #2 billion for the first time, marking a
significant milestone. Moreover, operating profit grew in the mid-to-high-teens, underscoring our
continued momentum. We are particularly pleased with the acceleration in gross profit growth in the
second half, which was balanced across both corporate and public sector clients, to deliver full year
growth of around 12%. Cash conversion remained strong for FY25, surpassing the Group's target of
100%, with a cash balance of over #110m at year end.


These strong results include two full months of trading under the recently updated Microsoft incentive
plan, which has been embedded into our strategic growth plans. We are well positioned to unlock the
growth opportunities associated with this change, backed by our long track record of successfully
adapting to such shifts in our vendor programmes.


In FY25, we continued to see high demand for software, AI and IT services from both corporate and
public sector clients. Given our deep partnerships with established vendors, exciting opportunities with
new providers across technology areas, longstanding customer relationships, and ongoing investment
in our employees, we believe BTG is well-positioned to continue its strong growth. We look forward to
sharing more detail in our Full Year results in May.


Sam Mudd, Chief Executive Officer, commented: "These results demonstrate the positive trajectory
of our business which benefits from an ever-evolving industry. Our unwavering focus on great customer
service drives expansion in our customer base and an increasing share of wallet from our existing
customers. BTG remains at the forefront of IT delivery, and we are highly engaged in areas such as AI
adoption, cloud services and cybersecurity, which continue to be strong industry drivers. Our strategy
is underpinned by our strong vendor relationships and the commercial acumen and dedication of our
people, which means we are primed to capture the significant growth opportunities ahead and drive
continued success."


                                                -Ends-
Enquiries:

Bytes Technology Group plc
Sam Mudd, Chief Executive Officer
Andrew Holden, Chief Financial Officer
James Zaremba, Investor Relations
Tel: +44 (0)1372 418 500
Email: IR@bytesplc.com
Sodali & Co
Elly Williamson
Jane Glover
Maria Zander
Tel: +44 (0)2072 501446
Email: btg@info.sodali.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 AI, 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

Date: 18-03-2025 09:00:00

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