Bytes Software Services saw its profits and sales rise due to strong demand for security, cloud adoption and remote working solutions in the first half of the year.
Gross invoiced income rose 26.3 percent year-on-year for the six months ending 31 August 2021 to reach £638.2 million, while revenue, which is adjusted for IFRS and stated after the netting adjustment for cloud and critical security license sales, grew 13.7 percent year-on-year to £251.4 million.
Adjusted operating profit, meanwhile, grew 22 per cent to £25 million and adjusted earnings per share rose 17.9 percent to 8.48.
CEO Neil Murphy (pictured) said that he was delighted to report such a strong set of results.
“We have maintained our track record of year-on-year growth despite the ongoing uncertainty caused by the pandemic, with our business benefitting from our wide-ranging offering, and our partnerships with the world’s leading vendors and software publishers. Encouragingly, we have seen continued growth from our public sector customers and strengthening demand from our corporate clients.
“Our customers’ appetite for security, cloud adoption, digital transformation, hybrid datacentre and remote working solutions have underpinned growth in H1 FY22. These investments increasingly take the form of annualised contracts and, accordingly, we remain confident in the group’s growth prospects going forward,” he said.
Gross invoiced income for software and services grew 27 percent and 27.1 percent respectively year-on-year while hardware grew marginally at 2.6 percent.
Bytes underwent an IPO last December and saw its revenues increase by £20 million in its results for the last full year, and Murphy claimed the business is in a strong position to continue growing.
