Bytes Technology Group plc (BYIT) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. I'd like to thank you for joining us for Byte's half-year results presentation for the period ending August 31, 2023. Before we start, just a few words on this morning's session and the order of events. Andrew, our CFO, and I will provide a short presentation lasting around 20 minutes or so, and then we'll turn to live Q&A. We are delighted to present another strong set of financial results with double-digit growth driven by contributions from all areas of the business. While the economic backdrop remains mixed, we've continued to see strong demand from our corporate and public sector customers. I want to thank our people and our partners who have worked together so well to deliver solutions for our customers. We are delighted that our customer and staff satisfaction levels continue to be amongst the best in the industry. Now let's turn to our key financial headlines for the first half. As I said a moment ago, we've delivered another strong set of sales and profit growth, extending our track record of positive progress in both the top and bottom lines. Grossed Invoiced Income or Sales are up at almost 38% at just over £1 billion. This marks the first time that the company has surpassed the £1 billion mark in a six-month period. This exceptional level of growth was underpinned by some large strategically important contract wins and I'll talk a bit more about these later in our presentation. Looking at some of the other core metrics Gross profits are up by 15% to 75.3 million. This has been driven by higher sales and by an increase in gross profit per customer. Adjusted operating profit is up 13.8% to 33.9 million. This reflects strong demand for software, services and hardware from both our public and private sector clients. And this is all clear evidenc...