London Stock Exchange Welcomes Bytes Technology Group plc to the Main Market

London Stock Exchange welcomes Bytes Technology Group (BTG) to celebrate the company’s public listing on the Main Market. With its 30-year track record, the company is one of the UK’s leading providers of software, security, hardware and cloud services. Bytes enable effective and cost-efficient technology sourcing, adoption and management for organisations of all sizes and industries.

Bytes’ strong relationships with many of the world’s largest software companies enable their specialist staff to deliver the latest technology to a diverse and embedded customer base. This has resulted in Bytes’ long track record of strong financial performance.

The Bytes Technology Group comprises two leading brands, Bytes Software Services (BSS) & Phoenix Software. Bytes Software Services' customer base is made up of both private sector customers and public sector customers, whilst Phoenix's focus is almost exclusively on the public sector.

Our strategy

Bytes Technology Group (BTG) seeks to achieve consistent profit growth over the medium-term while maintaining its focus on providing a high-quality service to customers and maintaining its positive and dynamic workplace culture.

BTG aim to achieve these objectives by: 

1.    Increasing the share of wallet with existing customers: There is a significant opportunity to deepen existing customer relationships and fulfil more of our customers’ overall IT requirements. 
2.    Expand new customer base: Our leading reputation in the market and suite of accreditations means that we have been successful in winning new customers. The UK IT market is highly fragmented, and our share of the core software market is less than 3%, which demonstrates the significant opportunity for further growth. Our customer base grew from 4,330 in FY18 to 4,930 in FY20 (across both the public and private sectors). 

Underpinning all of this is a culture which puts customers at its core while also seeking to maintain a dynamic sales culture. This has led to strong employee retention rates, improved productivity, better customer service and “stickier” customer relationships.

Neil Murphy, CEO of Bytes Technology Group, said: “We are delighted by the strong support we’ve received from new institutional investors and our existing shareholders. It’s an exciting time for our business and we look forward to executing on our ambitious growth plans and delivering value to our shareholders.”

To find out more about Bytes Technology Group visit: www.bytesplc.com  

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
1,173.46
Listing/Admission to trading
11 Dec 2020
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