(Alliance News) - Bytes Technology Group PLC on Tuesday said its saw continued strong trading during the first half of its financial year.
The Surrey, England-based computer software firm also announced the retirement of its chief financial officer and 30-year company veteran, Keith Richardson.
Bytes said it delivered year-on-year low-teens percentage growth in gross profit in the six months to August 31. Adjusted operating profit is expected to see percentage growth in the high-teens.
The FTSE 250 company was a subsidiary of Johannesburg-based Allied Electronics Corp Ltd until it was demerged and listed in Johannesburg and London last December.
Bytes said it continued to build on a robust set of maiden full-year results, which were reported in May, thanks to corporate sector demand strengthening alongside good growth from the public sector.
"Whilst uncertainty remains due to the ongoing impact of the pandemic, we're confident that our deep understanding of customers' needs and strong relationships with vendors means we're well-positioned to enhance our market share and to continue delivering against our strategy," Chief Executive Neil Murphy said.
Additionally, the company announced the retirement of CFO Richardson after nearly three decades with the firm.
Former chief operating officer, Andrew Holden, has taken over as acting CFO for now. But Richardson will be staying on until the end of October to ensure a smooth transition.
Bytes said it will provide an update regarding the permanent CFO position in due course.
Bytes expects to release its half-year results in late October.
The company's stock was down 0.6% to 523.00 pence each in London on Tuesday morning and was 0.8% lower in Johannesburg to ZAR102.13.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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