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Bytes Technology Group plc Reports Strong Financial Results for the Year Ended 28 February 2025

Strategic Insights

— 1 min read

Bytes Technology Group plc, a leading UK and Ireland software, security, AI, and cloud services specialist, has announced its financial results for the year ended 28 February 2025. The results show a strong performance, with a 15.2% increase in gross invoiced income (GII) to £2,099.8m and a 12.0% increase in gross profit (GP) to £163.3m.

Key Takeaways:

  • Gross invoiced income (GII) increased by 15.2% to £2,099.8m, primarily driven by software.
  • Gross profit (GP) grew by 12.0% to £163.3m, with 8.9% corporate growth and 18.2% public sector growth.
  • Operating profit increased by 17.1% to £66.4m, with the operating profit / GP margin increasing to 40.7%.
  • Final ordinary dividend of 6.9p, resulting in a full-year dividend of 10.0p, up 15.0%.
  • A special dividend of 10.0p was also proposed.
  • Cash conversion was 113.8%, with a strong balance sheet and closing cash of £113m.
  • Headcount growth of 17.8% to 1,245, with a focus on bolstering sales and service delivery teams.
  • Continued growth in physical footprint, with new offices and acquisitions.
  • Renewed Microsoft Azure Expert status and secured more security and cloud specialisms.
  • Received multiple vendor awards, including from Palo Alto Networks, Axonius, Check Point, Sophos, Cato Networks, Bitdefender, Adobe, and Druva.
  • Both Bytes Software Services and Phoenix Software named among the UK's top 50 Best Workplaces 2024.

Statistics:

  • Gross Invoiced Income (GII): £2,099.8m (up 15.2% from £1,823.0m)
  • Gross Profit (GP): £163.3m (up 12.0% from £145.8m)
  • Operating Profit: £66.4m (up 17.1% from £56.7m)
  • Final Ordinary Dividend: 6.9p per share
  • Special Dividend: 10.0p per share
  • Closing Cash: £113m
  • Cash Conversion: 113.8%
  • Headcount Growth: 17.8% to 1,245

Sources:

  • Johannesburg Stock Exchange announcement dated 13 May 2025
  • Bytes Technology Group plc website
  • SENS announcement dated 13 May 2025
  • London Stock Exchange announcement dated 13 May 2025
  • Investec Bank Limited as sponsor

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