Bytes Technology Group (LON:BYIT) reported its full year 2024 results, showing positive key financial results. The company saw an increase in revenue, reaching UK£207.0m, which was a 12% increase from the previous year. Net income also saw an increase, reaching UK£46.9m, a 16% increase from the previous year. The profit margin remained steady at 23%, in line with the previous year, and earnings per share (EPS) also saw growth, reaching UK£0.20, up from UK£0.17 in the previous year.
The revenue and expenses breakdown showed that the primary driver behind the revenue growth was the United Kingdom segment, contributing 97% of the total revenue. The largest operating expense was General & Administrative costs, amounting to 90% of total expenses. Looking ahead, the company forecasts a 12% average annual revenue growth over the next 3 years, outperforming the 11% growth forecast for the Software industry in the United Kingdom.
The performance of the British Software industry has been positive, with a 14% increase in the company’s shares from a week ago. However, it is important to consider the risks involved in investing in Bytes Technology Group. It is important to note that there is a warning sign for the company that has been uncovered, which should be taken into consideration before making any investment decisions.
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