Cloud services provider and VAR Bytes Technology Group has announced a solid year of growth for the 12 months ended 28 February 2022.
Neil Murphy, chief executive officer, said: "This is another record set of results for BTG, with positive contributions from all parts of the business.
“During the year we continued to strengthen our market position, by deepening our relationships with key software vendors and expanding our expertise in areas such as cloud, security and annuity software and services.”
Revenue increased 13.8% annually to £447.9m, with gross margins rising to 24% from 22.8% last time.
Operating profit increased 57% to £42.2m, with cash at the year end being £67.1m (FY21: £20.7m).
The board has proposed a final dividend of 4.2 pence per share and a special dividend of 6.2 pence per share.
“The business carries strong momentum going into FY23,” said the firm. “We have already made a good start in this new financial year, although we remain mindful of the domestic and global macroeconomic pressures.”
