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Bytes Technology Group has turned in some impressive numbers for its FY25 (12 months to end February 2025).
Gross Invoiced Income (GII, a key measure for resellers) broke through the £2bn barrier on the back of growth of over 15% to hit £2.09bn. Revenue was up 4.9% to £217.1m, with gross profit growing faster at 12% (to £163.3m). Indeed, Bytes has doubled gross profit and operating profit over the past five years.
Despite this, the company saw its share price dip c.5.0% at time of writing.
We caught up with CEO, Sam Mudd, first thing this morning. She told us that “staff have been incredible in this tough and challenging macroeconomic environment”. Of its c.1,200 employees, around 300 are technically aligned and focused on helping clients understand and adopt new technologies. Mudd adds that the firm has built up “huge capability” around software licensing with experts able to get under the skin of the intricacies of buying/usuage strategies.
In terms of AI, Mudd says Bytes goes at the pace of its customers, recognising that they are all moving at different speeds in their journey. “We focus on understanding their destination while working on an approach that is aligned by vertical.” She says this is enabling the firm to cross-fertilise knowledge and ideas between industries. “It's way beyond a technology decision – particularly with Agentic AI, which requires looking at fundamental business processes.”
In the current FY, the firm is looking to deliver another year of double-digit gross profit growth and high single-digit operating profit growth.
Posted by: Kate Hanaghan at 10:00
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results