Bytes Tech Regulatory News (BYIT)

17 March 2021

Bytes Technology Group plc

("Bytes")

Full Year Trading Update

Bytes, one of the UK's leading software, security and cloud services specialists, is pleased to provide the following update on trading for its financial year ended 28 February 2021 ("FY21"). The trading environment has remained resilient throughout the second half of FY21, and as a consequence Bytes expects to report preliminary results somewhat ahead of market expectations, with comfortably double-digit percentage gross profit growth and adjusted operating profit growth in the upper teens for the financial year as a whole, all of it organic. Cash conversion has also remained strong, resulting in a net cash position at 28 February 2021 of £20.7 million, ahead of management's expectations.

Bytes expects to release its preliminary results for FY21 in late May or early June 2021.

Neil Murphy, Chief Executive Officer, commented: "We have continued to perform well in the second half of the year and we have positive momentum across the business. Our performance during the year was underpinned by our continued high levels of service to our existing customers and notable successes achieved in securing new contracts from customers in both the private and public sectors."

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Enquiries:

Headland Consultancy

Stephen Malthouse

Lucy Legh

Henry Wallers

Jack Gault

Tel: +44 (0) 20 3805 4822

Email: bytes@headlandconsultancy.com

About Bytes Technology Group plc:

Bytes is one of the UK's leading providers of IT software offerings and solutions, with a focus on cloud and security products. The Bytes Group enables effective and cost-efficient technology sourcing, adoption and management across software services, including in the areas of security and cloud. It aims to deliver the latest technology to a diverse and embedded non-consumer customer base and has a long track record of delivering strong financial performance.