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.
If you have any feedback or concerns about the content provided in this article, you can get in touch with the editorial team at Simply Wall St. It is important to remember that the information provided in this article is general in nature and based on historical data and analyst forecasts. It is not intended to be financial advice and does not take into account your specific objectives or financial situation. Simply Wall St aims to provide unbiased analysis driven by fundamental data, but it may not factor in the latest company announcements or qualitative material.
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