Bytes Technology Group Plc
455.20
GBX
+1.60
(+0.35%)
Bytes Technology Group Plc
LSE:BYIT
(London Stock Exchange)
Recent
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455.20
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ROIC.AI
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- Bytes Technology Group plc (BYIT.L), founded in 1982 and headquartered in Leatherhead, Surrey, United Kingdom, serves as one of the UK's leading providers of IT software, security, AI, and cloud services to corporate and public sector customers including small- and medium-sized businesses, enterprises, and government organizations primarily in the United Kingdom and Ireland. The company operates through its principal brands Bytes Software Services, which supports corporate and public sector clients, and Phoenix Software, focused on public sector solutions; it offers a comprehensive portfolio encompassing subscription software licenses; cloud-based solutions such as multi-cloud migration, adoption, and Microsoft Azure managed services; hybrid infrastructure including servers, laptops, storage, and virtualization technologies; security products covering cyber security, threat intelligence, governance, risk, compliance, and software asset management with proprietary tools like Quantum and License Dashboard; professional and managed IT services including digital workspace, AI enablement for products like Microsoft Copilot, data and generative AI services, consulting, training, and 24x7 support; hardware resale; and emerging marketplace platforms for seamless online vendor purchases. Bytes generates the majority of its gross profit from high-margin software and services, with 98% renewal rates from existing customers and strategic emphasis on expanding share of wallet through higher-margin security, AI, and services attachments over multi-year contracts. Recent developments include strong FY25 performance with gross invoiced income surpassing £2 billion (up 15.2%), gross profit growth of 12.0% to £163.3 million, operating profit up 17.1% to £66.4 million, and cash conversion exceeding 113%; a £25 million share buyback programme launched in August 2025 executed via brokers Numis Securities and Peel Hunt; headcount expansion to 1,266 employees with new offices in Sunderland, Portsmouth, and expanded Leatherhead facilities; realignment of corporate sales into enterprise, corporate, and mid-market segments mirroring vendor structures; transition of corporate customers to higher-margin Microsoft Cloud Solution Provider programme amid incentive changes effective January 2025; deepened vendor partnerships evidenced by awards from Axonius, Barracuda, Check Point, Sophos, Varonis, VMware, Palo Alto Networks, Cato Networks, and Bitdefender; renewal of Microsoft Azure Expert status and attainment of additional security and cloud specializations; FTSE4Good Index inclusion in July 2025; increased interim dividend to 3.2 pence per share in H1 FY26; and ongoing investments in AI-dedicated teams, pre-sales technical skills, and internal platforms for operational efficiency.