Leatherhead’s Bytes Technology Group report 20 per cent profit increase in 2022

Bytes Technology Group, a Leatherhead-based company specialising in software, security, and cloud services, today announced its Full Year Trading Update with reports of encouraging growth.

The company said that both Gross Profit and Adjusted Operating Profit were both up 20 per cent on the prior year. There were also reports of strong sales growth, cash conversion returned to higher levels in the second half of the financial year meaning the company ended the full year at 85 per cent with a cash balance of £73 million.

This growth reflects the strong demand for software and IT services from both corporate and public sector clients despite the widely reported macro-economic headwinds. Support from vendors and long standing relationships with clientele were also reported as key to Bytes Technology Group’s growth.

CEO of Bytes Technology Group Neil Murphy said: "We are delighted with the performance delivered last year. Our successful strategy of acquiring new customers and then growing share of wallet, underpinned by strong vendor relationships and the commercial skills of our people, means we are well-placed to capture the significant growth opportunities ahead of us."

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