Bytes Technology trades well amid 'competitive market environment'

11th Jul 2024 08:00

(Sharecast News) - Computer software reseller Bytes Technology Group said on Thursday that it has continued to "trade well" against the backdrop of a "competitive market environment", with good growth across key financial performance metrics for the first four months of the trading year.

The FTSE 250-listed group said percentage growth in both gross invoiced Income and adjusted operating profit was "comfortably in double digits", with gross profit growth in the high single digits as a result of an increased weighting towards high volume, lower margin software wins in the period.

Chief executive Sam Mudd said: "The overall performance of the business was again driven by strong and stable demand from both corporate and public sectors for our market-leading, supported and secure IT systems. We remain confident that our continued strong vendor partnerships and first-rate client service position us well to achieve our strategic goals for the year."

As of 0815 BST, Bytes shares were down 1.72% at 515.00p.

Reporting by Iain Gilbert at Sharecast.com