26th Oct 2022 09:33
(Alliance News) - Bytes Technology Group PLC lifted its interim dividend as it posted double-digit top-line growth once again.
The Surrey, England-based computer software said it has also made a decent start to its second half.
The computer software firm posted revenue of GBP93.5 million in the six months to August 31, up 28% from GBP73.1 million. Pretax profit grew 18% to GBP27.0 million from GBP22.9 million.
Bytes added: "After a successful first half of financial year 2023 with a continuation of double-digit growth across key financial metrics, the business carries strong momentum going into the second six months of financial year 2023. We have already made a good start in this second half, although we remain mindful of the domestic and global macroeconomic pressures."
The company lifted its interim dividend by 20% to 2.4 pence per share from 2.0p.
"We have made a really positive start to the year and extended our long track record of consistent double-digit growth both before and since our listing in 2020. This performance reflects robust demand from both corporate and public sectors, with our customers showing a continued appetite to invest in their IT requirements despite the macroeconomic environment," Chief Executive Officer Neil Murphy said.
"The new ways of working brought about by the Covid pandemic have become entrenched and we believe the conditions we are operating in represent the new normal. Thanks to our best-in-class expertise and partnerships with the world's leading vendors, we are well-placed to continue serving our customers' needs and are confident that the group is well positioned for the remainder of the financial year."
Bytes shares were 4.6% lower at 417.80 pence each in London on Wednesday morning. It had surged 5.5% on Tuesday, however. In Johannesburg, the stock was down 0.3% at ZAR86.70 in morning trade on Wednesday.
By Eric Cunha; [email protected]
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