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Bytes sees solid sales and profit growth

Bytes sees solid sales and profit growth

London Stock Exchange-listed Bytes Technology Group saw a revenue increase of 27.9% to £93.5m, for the six months ended 31 August, 2022.

Neil Murphy, chief executive officer, said of the VAR’s half-year: "We have made a really positive start to the year and extended our long track record of consistent double-digit growth, both before and since our listing in 2020.

“This performance reflects robust demand from both corporate and public sectors, with our customers showing a continued appetite to invest in their IT requirements despite the macroeconomic environment.

“The new ways of working brought about by the pandemic have become entrenched and we believe the conditions we are operating in represent the new normal.”

Software revenue grew 26.5% to £57.8m, whilst hardware sales grew 35% to £20.9m. The company saw operating profits up 17.7% to £27.3m.