Bytes sees FY earnings up 20%

Software, security and cloud services specialist Bytes Technology Group said annual gross profit and adjusted operating earnings would be up 20%.

Cash conversion for the year to February 28 returned to higher levels in the second half to end the full year at around 85%, with a cash balance of around £73m, the company said on Wednesday, reflecting strong demand for software and IT Services from both corporate and public sector clients, despite macroeconomic headwinds.

Reporting by Frank Prenesti for Sharecast.com