BYTES TECHNOLOGY GROUP PLC - Full Year Trading Update

Bytes Technology Group plc
(Incorporated in the England & Wales)
(Registered number: 12935776)
LEI: 213800LA4DZLFBAC9O33
Share code: BYI
ISIN: GB00BMH18Q19
("Bytes Technology Group plc" or 'the Company')

17 March 2021

Full Year Trading Update


Bytes, one of the UK's leading software, security and cloud services specialists, is pleased to provide
the following update on trading for its financial year ended 28 February 2021 ('FY21'). The trading
environment has remained resilient throughout the second half of FY21, and as a consequence Bytes
expects to report preliminary results somewhat ahead of market expectations, with comfortably
double-digit percentage gross profit growth and adjusted operating profit growth in the upper teens
for the financial year as a whole, all of it organic. Cash conversion has also remained strong, resulting
in a net cash position at 28 February 2021 of #20.7 million, ahead of management's expectations.


Bytes expects to release its preliminary results for FY21 in late May or early June 2021.


Neil Murphy, Chief Executive Officer, commented: 'We have continued to perform well in the
second half of the year and we have positive momentum across the business. Our performance
during the year was underpinned by our continued high levels of service to our existing customers
and notable successes achieved in securing new contracts from customers in both the private and
public sectors.'

-Ends-

Enquiries:

Headland Consultancy
Stephen Malthouse
Lucy Legh
Henry Wallers
Jack Gault

Tel: +44 (0) 20 3805 4822
Email: bytes@headlandconsultancy.com

About Bytes Technology Group plc:


Bytes is one of the UK's leading providers of IT software offerings and solutions, with a focus on
cloud and security products. The Bytes Group enables effective and cost-efficient technology
sourcing, adoption and management across software services, including in the areas of security and
cloud. It aims to deliver the latest technology to a diverse and embedded non-consumer customer
base and has a long track record of delivering strong financial performance.


The Company has a primary listing on the Main Market of the London Stock Exchange and a secondary
listing on the Johannesburg Stock Exchange.

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 17-03-2021 09:00:00

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