Bytes has released its first numbers since its launch onto the stock market in December 2020 and is showing a five percent rise in revenue.
The numbers are the first numbers since its initial public offering (IPO) and indicate a five percent rise in revenues to £393.6 million, compared with £373.1 million a year earlier, and a 33 percent climb in gross invoicing income totalling £958.1 million. This means that adjusted operating profit of £37.5 million represented growth of 18 percent since the IPO.
Bytes indicated in its preliminary statement that the two months since the fiscal year closed have seen momentum continue, with gross profit in line with board expectations. There has been strong activity in the public sector and the firm has kept its customer satisfaction levels up.
Bytes CEO Neil Murphy (pictured) said that it had been a landmark year for Bytes, despite the pandemic.
“During the period, we achieved a successful IPO, which provides the group with a strong platform to take advantage of the tremendous opportunities we see in the market. Our first set of results as a listed business show we are making great strides in delivering on our long-term strategy for growth”, he added.
He said that Bytes is well-positioned to enhance its market share and capitalise on the exciting market opportunities ahead.
Murphy said the company’s plan of expanding beyond software to include more hardware and services had benefited its ability to serve more customer demands.
