Bytes Technology Group PLC (LON:BYIT) said it has performed well lately, with gross profit in line with expectations and showing growth on strong prior year comparables, especially in the public sector.
The FTSE 250 group, which demerged from South African technology company Altron and floated in London last December, said the strong trading was due to robust IT spending through the pandemic and effective sales execution.
In the year to 28 February, revenue advanced 5% to £393mln with the customer base expanding by 4% to 5,147, while profit before tax shed 11% to £26mln mostly due to IPO costs.
The software reseller added that it continues to invest in sales and technical capabilities and expects to see some increase in other overheads as lockdown eases and in-person customer interaction picks back up.
Confirming that its dividend policy will be to distribute between 40% and 50% of profit after tax before any exceptional items to shareholders, Bytes said a first dividend will be declared as an interim payout for the year ending 28 February 2022, and then on an ongoing basis.
Shares rose 1% to 521p on Wednesday morning.