Bytes Technology predicts further profit growth, unveils special divi

(Sharecast News) - Bytes Technology has announced a special dividend and hiked its full-year payout to shareholders after a solid full-year performance, with profits rising by a double-digit percentage.

The software, security AI and cloud services specialist outfit reported revenues of £217.1m for the 12 months to 28 February, up 4.9% on the previous year, with operating profits up 17.1% at £66.4m.

Gross invoiced income rose 15.2% to £2.10bn, topping the £2bn mark for the first time.

"I am proud to report another strong set of results for BTG, marked by a significant rise in operating profit. This performance reflects robust and sustained demand for our comprehensive suite of software, solutions, and services," said chief executive Sam Mudd.

The firm raised its final dividend by 15% to 6.9p, taking its total payout to 15p (+15%), and also unveiled a 10p special dividend.

The company said it performed well despite a "challenging macro environment" during the year, and is "well positioned to respond to the evolving demands we see in our markets" in the coming year, predicting high single-digit operating profit growth.

Bytes Tech