17th Sep 2026 08:49
(Alliance News) - Bytes Technology Group PLC on Thursday upgraded its annual outlook after reporting the "positive momentum" in the first half of its financial year.
The Surrey, England-based enterprise software said it expected operating profit to rise 6% for the six months that ended August 31, compared to a year before, reflecting the impact of cost normalisation.
Gross invoiced income is estimated to increase by 19% year-on-year.
"We are pleased with the positive momentum in the first half across both our private and public sector businesses," Bytes Chief Executive Officer Sam Mudd said.
Customer demand for software, cloud and security solutions had remained strong, and AI
was becoming a "more meaningful" driver of growth in the group's core business areas, Mudd said.
Due to the "strong" first-half performance, Bytes now expects gross profit growth for the 2027 financial year in the low to mid-teens, with a low- to mid-single-digit increase in operating profit.
In May, the company had guided for high single-digit to low double-digit percentage growth in gross profit, with operating profit broadly flat.
Mudd said the company had upgraded its expectations for financial 2027.
Bytes plans to release its interim financial results on October 13.
Bytes shares were up 8.9% to 437.60 pence in London on Thursday morning, and up 6.9% to ZAR94.05 in Johannesburg.
By Artwell Dlamini, Alliance News senior reporter South Africa
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Bytes Tech