Bytes Technology Group

BYIT · Main Market · Technology · mcap £1,043m · 462.2p

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Financials · balance sheet 31 Aug 26 · last twelve months · today’s market value

Source: results 13 Oct 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £1,064m
Owner’s net cash: £68.4m
Net cash / market cap: 6%
EV ex leases: £992.1m
Revenue: £240.8m
Operating profit: £64.9m
Free cash flow after leases: £58.8m
EV / EBIT: 15.3×
FCF yield: 5.5%
Price / tangible book: 15.28×
ROCE: 82%
Net income (owners): £52.1m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: H1 Aug 26 (six months to 31 Aug 26), published 13 Oct 26 · read the results ↗

Source ↗

	Six months ended 31 August 2026 Unaudited £’000	Six months ended 31 August 2025 Unaudited £’000	Year ended 28 February 2026 Audited £’000
Revenue	128,273	108,082	220,562
Cost of sales	(31,128)	(25,680)	(53,251)
Gross profit	97,145	82,402	167,311
Administrative expenses	(61,818)	(49,281)	(104,579)
Operating profit	35,327	33,121	62,732
Finance income	4,880	5,646	7,577
Finance costs	(167)	(158)	(319)
Share of loss of associate	-	-	(158)
Profit before taxation	40,040	38,609	69,832
Income tax expense	(10,165)	(9,578)	(18,550)
Profit after taxation	29,875	29,031	51,282
Profit for the period attributable to owners of the parent company	29,875	29,031	51,282
Pence Pence Pence
Basic earnings per ordinary share	12.76	12.03	21.40
Diluted earnings per ordinary share	12.32	11.62	20.74

Source ↗

	31 August 2026 Unaudited £’000	31 August 2025 Unaudited £’000	28 February 2026 Audited £’000
Assets
Non-current assets
Property, plant and equipment	14,137	13,947	14,082
Right-of-use assets	1,862	1,659	1,754
Intangible assets	45,674	45,369	46,482
Investment in associate	3,027	3,185	3,027
Contract assets	1,175	1,438	697
Total non-current assets	65,875	65,598	66,042
Current assets
Inventories	-	14	-
Contract assets	13,170	12,579	8,027
Trade and other receivables	330,304	258,993	299,887
Current tax asset	488	456	1,527
Cash and cash equivalents	68,443	82,300	98,646
Total current assets	412,405	354,342	408,087
Total assets	478,280	419,940	474,129
Liabilities
Non-current liabilities
Lease liabilities	(1,067)	(1,153)	(1,138)
Contract liabilities	(6,086)	(4,150)	(2,067)
Deferred tax liabilities	(2,477)	(382)	(2,587)
Total non-current liabilities	(9,630)	(5,685)	(5,792)
Current liabilities
Trade and other payables	(370,055)	(301,729)	(359,197)
Contract liabilities	(28,022)	(21,830)	(27,178)
Lease liabilities	(980)	(773)	(842)
Provisions	-	(12,500)	-
Total current liabilities	(399,057)	(336,832)	(387,217)
Total liabilities	(408,687)	(342,517)	(393,009)
Net assets	69,593	77,423	81,120
Equity
Share capital	2,304	2,424	2,364
Share premium	641,660	641,290	641,514
Other reserves	9,702	13,147	10,833
Merger reserve	(644,375)	(644,375)	(644,375)
Retained earnings	60,302	64,937	70,784
Total equity	69,593	77,423	81,120

Source ↗

	Period ended 31 August 2026 Unaudited £’000	Period ended 31 August 2025 Unaudited £’000	Year ended 28 February 2026 Audited £’000
Cash flows from operating activities
Cash generated from operations	16,868	14,696	71,827
Interest received	4,880	5,646	7,577
Interest paid	(126)	(122)	(239)
Income taxes paid	(9,236)	(9,984)	(18,121)
Net cash inflow from operating activities	12,386	10,236	61,044
Cash flows from investing activities
Payments for property, plant and equipment	(735)	(993)	(1,816)
Payments for intangible asset	-	(2,334)	(4,097)
Net cash outflow from investing activities	(735)	(3,327)	(5,913)
Cash flows from financing activities
Proceeds from issue of shares	148	4,874	5,100
Purchase of own shares for cancellation	(25,000)	(1,148)	(25,000)
Cost incurred on purchase of own shares	(178)	(9)	(187)
Principal elements of lease payments	(528)	(388)	(856)
Dividends paid to shareholders	(16,296)	(41,014)	(48,618)
Net cash outflow from financing activities	(41,854)	(37,685)	(69,561)
Net decrease in cash and cash equivalents	(30,203)	(30,776)	(14,430)
Cash and cash equivalents at the beginning of the financial period	98,646	113,076	113,076
Cash and cash equivalents at end of period	68,443	82,300	98,646

Source ↗

	2026 £'000	2025 £'000
Revenue	220,562	217,134
Cost of sales	(53,251)	(53,880)
Gross profit	167,311	163,254
Administrative expenses	(104,278)	(96,936)
(Increase) / decrease in loss allowance on trade receivables	(301)	108
Operating profit	62,732	66,426
Finance income	7,577	8,486
Finance costs	(319)	(291)
Share of loss of associate	(158)	(8)
Profit before taxation	69,832	74,613
Income tax expense	(18,550)	(19,772)
Profit after taxation	51,282	54,841
Profit for the period attributable to owners of the parent company	51,282	54,841
Pence Pence
Basic earnings per ordinary share	21.40	22.78
Diluted earnings per ordinary share	20.74	21.95

Source ↗

	2026 £'000	2025 £'000
Assets
Non-current assets
Property, plant and equipment	14,082	13,581
Right-of-use assets	1,754	1,641
Intangible assets	46,482	43,475
Investment in associate	3,027	3,185
Contract assets	697	1,773
Deferred tax asset	-	59
Total non-current assets	66,042	63,714
Current assets
Inventories	-	14
Contract assets	8,027	9,973
Trade and other receivables	299,887	268,454
Current tax asset	1,527	-
Cash and cash equivalents	98,646	113,076
Total current assets	408,087	391,517
Total assets	474,129	455,231
Liabilities
Non-current liabilities
Lease liabilities	(1,138)	(1,269)
Contract liabilities	(2,067)	(2,034)
Deferred tax liabilities	(2,587)	-
Total non-current liabilities	(5,792)	(3,303)
Current liabilities
Trade and other payables	(359,197)	(327,533)
Contract liabilities	(27,178)	(25,245)
Current tax liabilities	-	(439)
Lease liabilities	(842)	(668)
Total current liabilities	(387,217)	(353,885)
Total liabilities	(393,009)	(357,188)
Net assets	81,120	98,043
Equity
Share capital	2,364	2,411
Share premium	641,514	636,432
Share-based payment reserve	10,833	14,879
Merger reserve	(644,375)	(644,375)
Retained earnings	70,784	88,696
Total equity	81,120	98,043

Source ↗

	2026 £'000	2025 £'000
Cash flows from operating activities
Cash generated from operations	71,827	85,635
Interest received	7,577	8,486
Interest paid	(239)	(224)
Income taxes paid	(18,121)	(18,930)
Net cash inflow from operating activities	61,044	74,967
Cash flows from investing activities
Payments for property, plant and equipment	(1,816)	(6,358)
Payments for intangible asset	(4,097)	(3,709)
Net cash outflow from investing activities	(5,913)	(10,067)
Cash flows from financing activities
Proceeds from issues of shares	5,100	2,789
Purchase of own shares for cancellation	(25,000)	-
Cost incurred on purchase of own shares	(187)	-
Principal elements of lease payments	(856)	(606)
Dividends paid to shareholders 23(b)	(48,618)	(42,843)
Net cash outflow from financing activities	(69,561)	(40,660)
Net (decrease) / increase in cash and cash equivalents	(14,430)	24,240
Cash and cash equivalents at the beginning of the financial year	113,076	88,836
Cash and cash equivalents at end of year	98,646	113,076

Source ↗

	Six months ended 31 August 2025 Unaudited £'000	Six months ended 31 August 2024 Unaudited £'000	Year ended 28 February 2025 Audited £'000
Revenue	108,082	105,472	217,134
Cost of sales	(25,680)	(23,355)	(53,880)
Gross profit	82,402	82,117	163,254
Other income	396	-	105
Administrative expenses	(49,677)	(46,504)	(96,933)
Operating profit	33,121	35,613	66,426
Finance income	5,646	5,979	8,486
Finance costs	(158)	(158)	(291)
Share of profit/(loss) of associate	-	72	(8)
Profit before taxation	38,609	41,506	74,613
Income tax expense	(9,578)	(11,059)	(19,772)
Profit after taxation	29,031	30,447	54,841
Profit for the period attributable to owners of the parent company	29,031	30,447	54,841
Pence Pence Pence
Basic earnings per ordinary share	12.03	12.67	22.78
Diluted earnings per ordinary share	11.62	12.19	21.95

Source ↗

	31 August 2025 Unaudited £'000	31 August 2024 Unaudited £'000	28 February 2025 Audited £'000
Assets
Non-current assets
Property, plant and equipment	13,947	8,215	13,581
Right-of-use assets	1,659	1,517	1,641
Intangible assets	45,369	41,848	43,475
Investment in associate	3,185	3,265	3,185
Contract assets	1,438	1,327	1,773
Deferred tax assets	-	525	59
Total non-current assets	65,598	56,697	63,714
Current assets
Inventories	14	17	14
Contract assets	12,579	10,898	9,973
Trade and other receivables	258,993	211,756	268,454
Current tax asset	456	-	-
Cash and cash equivalents	82,300	71,507	113,076
Total current assets	354,342	294,178	391,517
Total assets	419,940	350,875	455,231
Liabilities
Non-current liabilities
Lease liabilities	(1,153)	(1,337)	(1,269)
Contract liabilities	(4,150)	(2,049)	(2,034)
Deferred tax liabilities	(382)	-	-
Total non-current liabilities	(5,685)	(3,386)	(3,303)
Current liabilities
Trade and other payables	(301,729)	(250,593)	(327,533)
Contract liabilities	(21,830)	(17,059)	(25,245)
Current tax liabilities	-	(1,732)	(439)
Lease liabilities	(773)	(520)	(668)
Provisions	(12,500)	-	-
Total current liabilities	(336,832)	(269,904)	(353,885)
Total liabilities	(342,517)	(273,290)	(357,188)
Net assets	77,423	77,585	98,043
Equity
Share capital	2,424	2,408	2,411
Share premium	641,290	635,554	636,432
Other reserves	13,147	12,539	14,879
Merger reserve	(644,375)	(644,375)	(644,375)
Retained earnings	64,937	71,459	88,696
Total equity	77,423	77,585	98,043

Source ↗

	Period ended 31 August 2025 Unaudited £'000	Period ended 31 August 2024 Unaudited £'000	Year ended 28 February 2025 Audited £'000
Cash flows from operating activities
Cash generated from operations	14,696	22,009	85,635
Interest received	5,646	5,979	8,486
Interest paid	(122)	(113)	(224)
Income taxes paid	(9,984)	(9,483)	(18,930)
Net cash inflow from operating activities	10,236	18,392	74,967
Cash flows from investing activities
Payments for property, plant and equipment	(993)	(354)	(6,358)
Payments for intangible asset	(2,334)	(1,642)	(3,709)
Net cash outflow from investing activities	(3,327)	(1,996)	(10,067)
Cash flows from financing activities
Proceeds from issue of shares	4,874	1,908	2,789
Purchase of own shares for cancellation	(1,148)	-	-
Cost incurred on purchase of own shares	(9)	-	-
Principal elements of lease payments	(388)	(260)	(606)
Dividends paid to shareholders	(41,014)	(35,373)	(42,843)
Net cash outflow from financing activities	(37,685)	(33,725)	(40,660)
Net (decrease)/increase in cash and cash equivalents	(30,776)	(17,329)	24,240
Cash and cash equivalents at the beginning of the financial period	113,076	88,836	88,836
Cash and cash equivalents at end of period	82,300	71,507	113,076

	LTM Aug 26	FY Feb 26	FY Feb 25
Revenue to operating profit
Revenue	240.8	220.6	217.1
Gross profit	182.1	167.3	163.3
Operating profit	64.9	62.7	66.4
Depreciation (right-of-use)	–	0.7	0.5
Amortisation	–	1.1	–
Operating profit to net income
Finance costs	(0.3)	(0.3)	(0.3)
Profit before tax	71.3	69.8	74.6
Tax	(19.1)	(18.6)	(19.8)
Net income (owners)	52.1	51.3	54.8
Per share
EPS basic	22.1p	21.4p	22.8p
EPS diluted	21.4p	20.7p	21.9p

	H1 Aug 26	vs H1 Aug 25	H2 Feb 26	H1 Aug 25	H2 Feb 25	H1 Aug 24
Revenue to operating profit
Revenue	128.3	+19%	112.5	108.1	111.7	105.5
Gross profit	97.1	+18%	84.9	82.4	81.1	82.1
Operating profit	35.3	+7%	29.6	33.1	30.8	35.6
Operating profit to net income
Finance costs	(0.2)	+6%	(0.2)	(0.2)	(0.1)	(0.2)
Profit before tax	40.0	+4%	31.2	38.6	33.1	41.5
Tax	(10.2)	+6%	(9.0)	(9.6)	(8.7)	(11.1)
Net income (owners)	29.9	+3%	22.3	29.0	24.4	30.4
Per share
EPS basic	12.8p	–	9.4p	12.0p	10.1p	12.7p
EPS diluted	12.3p	–	9.1p	11.6p	9.8p	12.2p
Dividend per share	3.3p	–	–	3.2p	–	3.1p

	LTM Aug 26	FY Feb 26	FY Feb 25
Operating activities
Cash from operations	63.2	61.0	75.0
Interest paid	(0.2)	(0.2)	(0.2)
Tax paid	(17.4)	(18.1)	(18.9)
Investing activities
Capex (PP&E)	(1.6)	(1.8)	(6.4)
Capex (intangibles)	(1.8)	(4.1)	(3.7)
Financing activities
Lease principal paid	(1.0)	(0.9)	(0.6)
Lease interest paid	–	0.1	0.1
Dividends paid	(23.9)	(48.6)	(42.8)
Share buybacks	(48.9)	(25.0)	–
Shares issued	0.4	5.1	2.8

	H1 Aug 26	vs H1 Aug 25	H2 Feb 26	H1 Aug 25	H2 Feb 25	H1 Aug 24
Operating activities
Cash from operations	12.4	+21%	50.8	10.2	56.6	18.4
Interest paid	(0.1)	+3%	(0.1)	(0.1)	(0.1)	(0.1)
Tax paid	(9.2)	−7%	(8.1)	(10.0)	(9.4)	(9.5)
Investing activities
Capex (PP&E)	(0.7)	−26%	(0.8)	(1.0)	(6.0)	(0.4)
Capex (intangibles)	0.0	n/m	(1.8)	(2.3)	(2.1)	(1.6)
Financing activities
Lease principal paid	(0.5)	+36%	(0.5)	(0.4)	(0.3)	(0.3)
Dividends paid	(16.3)	−60%	(7.6)	(41.0)	(7.5)	(35.4)
Share buybacks	(25.0)	n/m	(23.9)	(1.1)	–	–
Shares issued	0.1	−97%	0.2	4.9	0.9	1.9

	13 Oct 26	28 Feb 26	28 Feb 25
Non-current assets
Goodwill	–	37.5	–
Property, plant & equipment	–	14.1	13.6
Associates & JVs	–	3.0	3.2
Non-current assets	–	66.0	63.7
Current assets
Inventories	–	–	0.0
Trade receivables	–	299.9	268.5
Cash	–	98.6	113.1
Current assets	–	408.1	391.5
Total assets	–	474.1	455.2
Current liabilities
Trade payables	–	359.2	327.5
Lease liabilities, current	–	0.8	0.7
Current liabilities	–	387.2	353.9
Non-current liabilities
Lease liabilities, non-current	–	1.1	1.3
Non-current liabilities	–	5.8	3.3
Total liabilities	–	393.0	357.2
Equity
Total equity	–	81.1	98.0
Net cash and other figures
Shares in issue	230.1m	–	–
Undrawn facilities	–	30.0	–

	13 Oct 26	31 Aug 26	28 Feb 26	31 Aug 25	28 Feb 25	31 Aug 24
Non-current assets
Goodwill	–	–	37.5	–	–	–
Property, plant & equipment	–	14.1	14.1	13.9	13.6	8.2
Associates & JVs	–	3.0	3.0	3.2	3.2	3.3
Non-current assets	–	65.9	66.0	65.6	63.7	56.7
Current assets
Inventories	–	–	–	0.0	0.0	0.0
Trade receivables	–	330.3	299.9	259.0	268.5	211.8
Cash	–	68.4	98.6	82.3	113.1	71.5
Current assets	–	412.4	408.1	354.3	391.5	294.2
Total assets	–	478.3	474.1	419.9	455.2	350.9
Current liabilities
Trade payables	–	370.1	359.2	301.7	327.5	250.6
Lease liabilities, current	–	1.0	0.8	0.8	0.7	0.5
Current liabilities	–	399.1	387.2	336.8	353.9	269.9
Non-current liabilities
Lease liabilities, non-current	–	1.1	1.1	1.2	1.3	1.3
Non-current liabilities	–	9.6	5.8	5.7	3.3	3.4
Total liabilities	–	408.7	393.0	342.5	357.2	273.3
Equity
Total equity	–	69.6	81.1	77.4	98.0	77.6
Net cash and other figures
Shares in issue	230.1m	–	–	–	–	–
Undrawn facilities	–	30.0	30.0	30.0	–	–

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