Business
Audited Results
Audited Results.
About this update from Bytes Technology Group Plc
[{"type":"text","content":"\n\n13 May 2025\nBytes Technology Group Plc\n(\"BTG\" or \"the Group\" or \"the Company\")\n \nAudited results for the year ended 28 February 2025\nStrong partnerships drive consistent growth\n \nBytes Technology Group plc (LSE: BYIT, JSE: BYI), one of the UK and Ireland's leading software, security, AI and cloud services specialists, today announces its financial results for the year ended 28 February 2025 (2024/25).\n \nFinancial performance\n \n\n\n\n\n\n\n\nYear ended 28 February 2025\n\n\nYear ended 29 February 2024\n\n\n% change year on year\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nGross invoiced income (GII)1\n\n\n£2,099.8m\n \n\n\n£1,823.0m\n\n\n15.2\n\n\n\n\nRevenue2\n\n\n£217.1m\n\n\n£207.0m\n\n\n4.9\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nGross profit (GP)\n \n\n\n£163.3m\n \n\n\n£145.8m\n \n\n\n12.0\n\n\n\n\nOperating profit\n \nOperating profit/GP%\n\n\n£66.4m\n \n40.7%\n\n\n£56.7m\n \n38.9%\n\n\n17.1\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nCash\n\n\n£113.1m\n\n\n£88.8m\n \n\n\n27.4\n\n\n\n\nCash conversion3\n \n\n\n113.8%\n\n\n116.4%\n\n\n\n\n\n\n\nEarnings per share (pence)\n\n\n22.78\n\n\n19.55\n\n\n16.5\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nFinal dividend per share (pence)\n \nSpecial dividend per share (pence)\n\n\n6.9\n \n10.0\n \n\n\n6.0\n \n8.7\n\n\n15.0\n \n14.9\n\n\n\n\n \nFinancial highlights\n \n- GII exceeded £2bn for the first time, increasing by 15.2%, primarily driven by software.\n- GP growth of 12.0%, with 8.9% corporate growth and 18.2% public sector growth, and double-digit growth in software and services.\n- Operating profit increased by 17.1%, with the operating profit / GP margin increasing to 40.7%. \n- Final ordinary dividend of 6.9p, resulting in a full-year dividend of 10.0p, up 15.0%, together with a special dividend of 10.0p.\n- Strong balance sheet with closing cash of £113m and 114% cash conversion.\n \n1 GII is a non-International Financial Reporting Standards (IFRS) alternative performance measure that reflects gross income billed to customers adjusted for deferred and accrued revenue items. GII has a direct influence on our movements in working capital.\n2 Revenue is reported in ...