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Bytes Technology Group Plc ( (GB:BYIT) ) just unveiled an update.
Bytes Technology Group reported full-year results for the period to 28 February 2026 in line with prior guidance, delivering double-digit gross invoiced income growth, around £167 million in gross profit and approximately £62 million in operating profit. Cash conversion exceeded 100%, leaving more than £98 million on the balance sheet after returning £74 million to shareholders, underlining the board’s confidence in the business.
Performance improved in the second half despite headwinds from changes to Microsoft enterprise incentives and private sector sales realignment, with gross profit rising about 6% year on year in January and February. For FY27, the group is guiding to high single- to low double-digit gross profit growth but broadly flat operating profit as it absorbs about £4.5 million of cost normalisation while continuing to invest in headcount.
From July 2026, Bytes will sharpen its go-to-market structure by focusing Bytes Software Services on private sector clients and Phoenix Software on the public sector to simplify the organisation and deepen sector expertise. Management sees ongoing customer investment in AI, cloud infrastructure, cyber security and digital workspaces, and believes the group is well positioned to benefit as AI moves from experimentation to deployment at scale.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £338.00 price target. To see the full list of analyst forecasts on Bytes Technology Group Plc stock, see the GB:BYIT Stock Forecast page.
Spark’s Take on BYIT Stock
According to Spark, TipRanks’ AI Analyst, BYIT is a Outperform.
Bytes Technology Group’s strong financial performance and strategic share buybacks are significant strengths, contributing positively to the stock’s attractiveness. However, the current bearish technical indicators slightly offset these strengths. The valuation remains appealing, providing a balanced investment opportunity.
To see Spark’s full report on BYIT stock, click here.
More about Bytes Technology Group Plc
Bytes Technology Group plc is one of the UK and Ireland’s leading providers of IT software offerings and solutions, with a focus on AI, cloud and security products. The company helps a broad base of non-consumer customers to source, adopt and manage technology effectively and cost‑efficiently, and is listed on both the London and Johannesburg stock exchanges.
Average Trading Volume: 912,978
Technical Sentiment Signal: Sell
Current Market Cap: £708.2M
Learn more about BYIT stock on TipRanks’ Stock Analysis page.