New Risk • May 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annonce • May 14
Bytes Technology Group plc Announces Standing Down of Andrew Holden as Chief Financial Officer Bytes Technology Group plc announced that, following an assessment of the roles required to support the Company's next phase of growth, the Board decided to split the currently combined roles of Chief Financial Officer and Chief Operating Officer, held by Andrew Holden. As part of this change, Andrew Holden will be standing down as Chief Financial Officer once a suitable replacement has been appointed, at which date he will step down from the Board. Thereafter, he will remain with the Company and transition into the role of Chief Operating Officer. Declared Dividend • May 14
Final dividend of UK£0.07 announced Shareholders will receive a dividend of UK£0.07. Ex-date: 15th July 2026 Payment date: 31st July 2026 Dividend yield will be 1.0%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 21% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 13
Full year 2026 earnings released: EPS: UK£0.21 (vs UK£0.23 in FY 2025) Full year 2026 results: EPS: UK£0.21 (down from UK£0.23 in FY 2025). Revenue: UK£220.6m (up 1.6% from FY 2025). Net income: UK£51.3m (down 6.5% from FY 2025). Profit margin: 23% (down from 25% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Global Software industry. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annonce • May 12
Bytes Technology Group plc, Annual General Meeting, Jul 09, 2026 Bytes Technology Group plc, Annual General Meeting, Jul 09, 2026. Buy Or Sell Opportunity • Mar 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to R58.50. The fair value is estimated to be R75.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 5.2% in the next 2 years. Annonce • Mar 24
Bytes Technology Group plc Provides Earnings Guidance for the Year 2027 Bytes Technology Group plc provided earnings guidance for the year 2027. For the period, the company expects operating profit broadly flat as the Group absorbs c.£4.5m of cost normalisation, reflecting higher technology costs following the completion of strategic projects and a return to normal bonus levels, on top of continued headcount investment for growth. Annonce • Mar 20
Bytes Technology Group plc to Report Fiscal Year 2026 Results on May 12, 2026 Bytes Technology Group plc announced that they will report fiscal year 2026 results on May 12, 2026 Buy Or Sell Opportunity • Feb 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to R63.59. The fair value is estimated to be R80.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 9.4% in the next 2 years. Buy Or Sell Opportunity • Feb 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to R65.01. The fair value is estimated to be R83.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 9.5% in the next 2 years. Declared Dividend • Oct 16
First half dividend of UK£0.032 announced Shareholders will receive a dividend of UK£0.032. Ex-date: 5th November 2025 Payment date: 21st November 2025 Dividend yield will be 4.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (46% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 50% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 14
First half 2026 earnings released: EPS: UK£0.12 (vs UK£0.13 in 1H 2025) First half 2026 results: EPS: UK£0.12 (down from UK£0.13 in 1H 2025). Revenue: UK£108.1m (up 2.5% from 1H 2025). Net income: UK£29.0m (down 4.7% from 1H 2025). Profit margin: 27% (down from 29% in 1H 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Global Software industry. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • Oct 14
Bytes Technology Group plc Announces Interim Dividend for First Half Ended 31 August 2025, Payable on 21 November 2025 Bytes Technology Group plc announced Interim dividend of 3.2 pence per share, increased by 3.2% from last year's interim dividend, for first half year of fiscal year 2026 ended 31 August 2025 (H1 FY25: 3.1 pence per share). The aggregate amount of the proposed dividend expected to be paid on 21 November 2025 out of retained earnings at 31 August 2025, but not recognised as a liability at the end of the half year, is £7.6 million. Record date is 7 November 2025. Commence trading ex-dividend (SA register) is 5 November 2025. Commence trading ex-dividend (UK register) is 6 November 2025. Annonce • Sep 18
Bytes Technology Group plc Provides Earnings Guidance for the Half Year Ended 31 August 2025 Bytes Technology Group plc provided earnings guidance for the half year ended 31 August 2025. For the period, company expects Operating Profit to be not less than £33 million. Recent Insider Transactions • Aug 21
CEO & Executive Director recently bought R2.4m worth of stock On the 18th of August, Sam Mudd bought around 25k shares on-market at roughly R93.46 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Sam's only on-market trade for the last 12 months. New Risk • Jul 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.6% average weekly change). Upcoming Dividend • Jul 02
Upcoming dividend of UK£0.17 per share Eligible shareholders must have bought the stock before 09 July 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of South African dividend payers (8.3%). Higher than average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to R86.00, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 25x in the Software industry globally. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at R70.88 per share. Annonce • May 29
Bytes Technology Group plc, Annual General Meeting, Jul 02, 2025 Bytes Technology Group plc, Annual General Meeting, Jul 02, 2025. Location: bytes house, randalls way, leatherhead kt22 7tw United Kingdom Buy Or Sell Opportunity • May 28
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to R127. The fair value is estimated to be R105, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 8.1% per annum over the same time period. Declared Dividend • May 15
Final dividend of UK£0.17 announced Shareholders will receive a dividend of UK£0.17. Ex-date: 9th July 2025 Payment date: 25th July 2025 Dividend yield will be 0.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 50% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 14
Full year 2025 earnings released: EPS: UK£0.23 (vs UK£0.20 in FY 2024) Full year 2025 results: EPS: UK£0.23 (up from UK£0.20 in FY 2024). Revenue: UK£217.1m (up 4.9% from FY 2024). Net income: UK£54.8m (up 17% from FY 2024). Profit margin: 25% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Annonce • May 13
Bytes Technology Group plc Proposes Final Dividend for Year Ended 28 February, 2025, Payable on 25 July 2025 The Board of Bytes Technology Group plc proposed a gross final dividend of 6.9 pence per share for year ended 28 February, 2025, subject to shareholder approval. The aggregate amount of the proposed dividend expected to be paid out of retained earnings at 28 February 2025, but not recognised as a liability at the end of the financial year, equates to £16.6 million. Ex dividend date (SA register) is 9 July, 2025. Ex dividend date (UK register) is 10 July, 2025. Record date is 11 July 2025. Payment date is 25 July 2025. Annonce • Apr 23
Bytes Technology Group plc to Report Fiscal Year 2025 Results on May 13, 2025 Bytes Technology Group plc announced that they will report fiscal year 2025 results on May 13, 2025 Buy Or Sell Opportunity • Apr 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to R123. The fair value is estimated to be R102, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R116, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Software industry globally. Total returns to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at R120 per share. Recent Insider Transactions • Jan 23
Independent Non-Executive Director recently bought R729k worth of stock On the 20th of January, Ross Paterson bought around 7k shares on-market at roughly R97.45 per share. This transaction amounted to 90% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought R4.7m more in shares than they have sold in the last 12 months. Buy Or Sell Opportunity • Dec 17
Now 21% overvalued Over the last 90 days, the stock has fallen 7.8% to R101. The fair value is estimated to be R83.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Buy Or Sell Opportunity • Nov 22
Now 22% overvalued Over the last 90 days, the stock has fallen 8.5% to R101. The fair value is estimated to be R82.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Buy Or Sell Opportunity • Nov 01
Now 20% overvalued Over the last 90 days, the stock has fallen 6.9% to R104. The fair value is estimated to be R86.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Declared Dividend • Oct 17
First half dividend of UK£0.031 announced Shareholders will receive a dividend of UK£0.031. Ex-date: 6th November 2024 Payment date: 22nd November 2024 Dividend yield will be 3.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 63% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 15
First half 2025 earnings released: EPS: UK£0.13 (vs UK£0.11 in 1H 2024) First half 2025 results: EPS: UK£0.13 (up from UK£0.11 in 1H 2024). Revenue: UK£105.5m (down 3.0% from 1H 2024). Net income: UK£30.4m (up 20% from 1H 2024). Profit margin: 29% (up from 23% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Oct 15
Bytes Technology Group PLC Declares an Interim Dividend for the Six Months Ended 31 August 2024, Payable on 22 November 2024 Bytes Technology Group PLC declared an interim dividend of 3.1 pence per share, for the six months ended 31 August 2024, representing a 14.8% increase from the previous year's interim dividend of 2.7 pence. The dividend is scheduled to be paid on 22 November 2024 to shareholders on the register at 8 November 2024. Commence trading ex-dividend (SA register) is 6 November 2024. Commence trading ex-dividend (UK register) is 7 November 2024. Buy Or Sell Opportunity • Sep 19
Now 24% overvalued Over the last 90 days, the stock has fallen 8.4% to R120. The fair value is estimated to be R96.81, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Annonce • Sep 19
Bytes Technology Group plc to Report First Half, 2025 Results on Oct 15, 2024 Bytes Technology Group plc announced that they will report first half, 2025 results on Oct 15, 2024 Buy Or Sell Opportunity • Sep 04
Now 20% overvalued Over the last 90 days, the stock has fallen 18% to R110. The fair value is estimated to be R91.83, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Buy Or Sell Opportunity • Aug 05
Now 20% overvalued Over the last 90 days, the stock has fallen 1.8% to R113. The fair value is estimated to be R94.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 9.5% per annum over the same time period. Recent Insider Transactions • Aug 04
CEO & Executive Director recently bought R587k worth of stock On the 1st of August, Sam Mudd bought around 5k shares on-market at roughly R117 per share. This transaction amounted to 5.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth R1.2m. Sam has been a buyer over the last 12 months, purchasing a net total of R2.4m worth in shares. Upcoming Dividend • Jul 10
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 17 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of South African dividend payers (8.8%). Higher than average of industry peers (0.7%). Buy Or Sell Opportunity • Jul 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to R131. The fair value is estimated to be R108, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 9.9% per annum over the same time period. Board Change • Jul 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Chairman Patrick De Smedt is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Jun 23
Independent Non-Executive Director recently bought R1.1m worth of stock On the 20th of June, Ross Paterson bought around 8k shares on-market at roughly R131 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth R1.2m. Despite this recent purchase, insiders have collectively sold R21m more in shares than they bought in the last 12 months. Annonce • Jun 08
Bytes Technology Group plc, Annual General Meeting, Jul 11, 2024 Bytes Technology Group plc, Annual General Meeting, Jul 11, 2024. Location: bytes house, randalls way, kt22 7tw, leatherhead United Kingdom Recent Insider Transactions • Jun 06
Phoenix MD recently bought R1.2m worth of stock On the 3rd of June, Sam Mudd bought around 9k shares on-market at roughly R133 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Sam has been a buyer over the last 12 months, purchasing a net total of R1.8m worth in shares. Declared Dividend • May 26
Final dividend of UK£0.15 announced Shareholders will receive a dividend of UK£0.15. Ex-date: 17th July 2024 Payment date: 2nd August 2024 Dividend yield will be 0.5%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 63% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 24
Full year 2024 earnings released: EPS: UK£0.20 (vs UK£0.17 in FY 2023) Full year 2024 results: EPS: UK£0.20 (up from UK£0.17 in FY 2023). Revenue: UK£207.0m (up 12% from FY 2023). Net income: UK£46.9m (up 16% from FY 2023). Profit margin: 23% (in line with FY 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Annonce • May 18
Bytes Technology Group plc to Report Fiscal Year 2024 Results on May 23, 2024 Bytes Technology Group plc announced that they will report fiscal year 2024 results on May 23, 2024 Buy Or Sell Opportunity • May 10
Now 21% overvalued Over the last 90 days, the stock has fallen 26% to R118. The fair value is estimated to be R97.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 33% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Buy Or Sell Opportunity • Apr 12
Now 21% overvalued Over the last 90 days, the stock has fallen 16% to R119. The fair value is estimated to be R98.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 33% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Board Change • Mar 28
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Chairman Patrick De Smedt is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annonce • Mar 26
Bytes Technology Group plc Announces Directorate Change Bytes Technology Group plc announced that non-executive director Mike Phillips has stepped down from the Board of BTG with immediate effect. Erika Schraner will assume Mike's roles of Senior Independent Director and Audit Committee Chair, the latter on an interim basis while the Board recruits a permanent replacement. Buy Or Sell Opportunity • Feb 23
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to R138. The fair value is estimated to be R111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 33% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Annonce • Feb 21
Bytes Technology Group plc Announces CEO Changes Bytes Technology Group plc announces that Neil Murphy has tendered his resignation from his position as Chief Executive Officer of BTG, effective 21 February 2024. Board also announced that Sam Mudd, Executive Director of the Company and Managing Director of Phoenix Software Limited, will assume the role of Interim CEO. Annonce • Jan 31
Bytes Technology Group plc Appoints Shruthi Chindalur as Independent Non-Executive Director, Effective from 1 February 2024 Bytes Technology Group plc announced the appointment of Shruthi Chindalur as an Independent Non-Executive Director, with effect from 1 February 2024. Shruthi will be a member of the audit, nomination and remuneration committees. Shruthi has more than 20 years' experience across the technology, SaaS and adtech industries. She was most recently an Executive Managing Director at the advertising group Criteo, where she led EMEA and Global Indirect Channels. She has also held a number of senior commercial roles at Oracle and LinkedIn, with responsibility for markets across APAC, EMEA and the Americas. She is currently a Non-Executive Director of Access Group. Recent Insider Transactions • Dec 23
Phoenix MD & Executive Director recently bought R639k worth of stock On the 21st of December, Sam Mudd bought around 5k shares on-market at roughly R139 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth R7.1m. Despite this recent purchase, insiders have collectively sold R128m more in shares than they bought in the last 12 months. Annonce • Dec 07
Bytes Technology Group plc Announces Executive Changes Bytes Technology Group plc announced that as announced on 12 April 2023 and following the conclusion of the AGM, the company confirmed the appointment of Sam Mudd as an Executive Director and that David Maw has stepped down from his role as a Non-Executive Director. Recent Insider Transactions • Nov 29
Insider recently sold R26m worth of stock On the 23rd of November, Jack Watson sold around 200k shares on-market at roughly R130 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of R130m more than they bought in the last 12 months. Upcoming Dividend • Nov 08
Upcoming dividend of UK£0.027 per share at 3.0% yield Eligible shareholders must have bought the stock before 15 November 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of South African dividend payers (9.7%). Lower than average of industry peers (4.3%). Reported Earnings • Oct 27
First half 2024 earnings released: EPS: UK£0.11 (vs UK£0.091 in 1H 2023) First half 2024 results: EPS: UK£0.11 (up from UK£0.091 in 1H 2023). Revenue: UK£108.7m (up 16% from 1H 2023). Net income: UK£25.4m (up 17% from 1H 2023). Profit margin: 23% (in line with 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. Annonce • Oct 26
Bytes Technology Group plc Declares Gross Interim Dividend for the period 31 August 2023, Payable on 1 December 2023 Bytes Technology Group plc declared a gross interim dividend of 2.7 pence per share. The aggregate amount of the interim dividend expected to be paid out of retained earnings at 31 August 2023, but not recognised as a liability at the end of the half year, is £6.5 million. Record date is on 17 November 2023. Payment date is on 1 December 2023. Commence trading ex-dividend (SA register) on 15 November 2023 and Commence trading ex-dividend (UK register) on 16 November 2023. New Risk • Oct 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annonce • Sep 28
Bytes Technology Group plc Announces Directorate Change Bytes Technology Group announces that having served on the Board since the Company's IPO in 2020, Dr. Alison Vincent has indicated that she wishes to retire from her role as independent non-executive director at the conclusion of her three-year term, with effect from 31 October 2023. The Board would like to thank Alison for her substantial contribution to the development and growth of Bytes since joining the Company in 2020. Dr. Erika Schraner, independent non-executive director and member of the Remuneration Committee will take over the role of Chair of the Remuneration Committee, with effect from 1 November 2023. A process to recruit an additional independent non-executive director with relevant experience is underway and a further announcement will be made in due course. Annonce • Sep 27
Bytes Technology Group plc to Report First Half, 2024 Results on Oct 25, 2023 Bytes Technology Group plc announced that they will report first half, 2024 results on Oct 25, 2023 Annonce • Jul 13
Bytes Technology Group plc Announces Director Changes Bytes Technology Group plc at Annual General Meeting (AGM) held on 12 July 2023, following the conclusion of the AGM, the Company confirms the appointment of Sam Mudd as an Executive Director and that David Maw has stepped down from his role as a Non-Executive Director. Upcoming Dividend • Jul 12
Upcoming dividend of R2.99 per share at 3.0% yield Eligible shareholders must have bought the stock before 19 July 2023. Payment date: 04 August 2023. Payout ratio is a comfortable 44% and the cash payout ratio is 83%. Trailing yield: 3.0%. Lower than top quartile of South African dividend payers (10.0%). Lower than average of industry peers (4.0%). Annonce • Jul 04
Bytes Technology Group plc Proposes Special Dividend Payable on 4 August 2023 Bytes Technology Group plc proposes special dividend of 7.5 pence per share. If approved by shareholders at the Company's Annual General Meeting on 12 July 2023, the special dividend will be payable on 4 August 2023 to all ordinary shareholders who are registered as such at the close of business on the record date, 21 July 2023. Recent Insider Transactions • Jun 26
CEO & Director recently sold R112m worth of stock On the 22nd of June, Neil Murphy sold around 950k shares on-market at roughly R118 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Neil has been a net seller over the last 12 months, reducing personal holdings by R104m. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to R123, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 34x in the Software industry globally. Total returns to shareholders of 55% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R55.09 per share. New Risk • Jun 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annonce • Jun 06
Bytes Technology Group plc, Annual General Meeting, Jul 12, 2023 Bytes Technology Group plc, Annual General Meeting, Jul 12, 2023, at 13:00 Coordinated Universal Time. Location: 45 Gresham Street London United Kingdom Annonce • Jun 01
Bytes Technology Group plc (LSE:BYIT) acquired 25.1% stakes in Cloud Bridge Technologies Limited. Bytes Technology Group plc (LSE:BYIT) acquired 25.1% stakes in Cloud Bridge Technologies Limited in April 2023. Bytes Technology Group plc (LSE:BYIT) completed the acquisition of 25.1% stakes in Cloud Bridge Technologies Limited in April 2023. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R127, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 32x in the Software industry globally. Total returns to shareholders of 50% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R58.42 per share. Reported Earnings • May 24
Full year 2023 earnings released: EPS: UK£0.17 (vs UK£0.14 in FY 2022) Full year 2023 results: EPS: UK£0.17 (up from UK£0.14 in FY 2022). Revenue: UK£184.4m (down 59% from FY 2022). Net income: UK£40.4m (up 23% from FY 2022). Profit margin: 22% (up from 7.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. Recent Insider Transactions • Feb 03
CEO & Director recently bought R4.2m worth of stock On the 1st of February, Neil Murphy bought around 51k shares on-market at roughly R83.23 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Neil has been a buyer over the last 12 months, purchasing a net total of R11m worth in shares. Recent Insider Transactions • Jan 10
CEO & Director recently bought R3.5m worth of stock On the 6th of January, Neil Murphy bought around 44k shares on-market at roughly R78.74 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Neil has been a net seller over the last 12 months, reducing personal holdings by R47m. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Patrick De Smedt is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 18% share price gain to R88.74, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 27x in the Software industry globally. Total loss to shareholders of 19% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R76.94 per share. Upcoming Dividend • Nov 09
Upcoming dividend of UK£0.024 per share Eligible shareholders must have bought the stock before 16 November 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 44% but the company is paying out more than the cash it is generating. Trailing yield: 1.7%. Lower than top quartile of South African dividend payers (8.8%). Higher than average of industry peers (1.2%). Reported Earnings • Oct 26
First half 2023 earnings released: EPS: UK£0.091 (vs UK£0.077 in 1H 2022) First half 2023 results: EPS: UK£0.091 (up from UK£0.077 in 1H 2022). Revenue: UK£93.5m (up 28% from 1H 2022). Net income: UK£21.7m (up 19% from 1H 2022). Profit margin: 23% (down from 25% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. Recent Insider Transactions • Aug 27
Independent Non-Executive Director recently bought R200k worth of stock On the 24th of August, Alison Vincent bought around 2k shares on-market at roughly R84.13 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold R52m more in shares than they bought in the last 12 months. Upcoming Dividend • Jul 20
Upcoming dividend of UK£0.10 per share Eligible shareholders must have bought the stock before 27 July 2022. Payment date: 12 August 2022. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of South African dividend payers (9.2%). Higher than average of industry peers (1.0%). Reported Earnings • May 25
Full year 2022 earnings released Full year 2022 results: Revenue: UK£447.9m (up 14% from FY 2021). Net income: UK£32.9m (up 65% from FY 2021). Profit margin: 7.3% (up from 5.1% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15%, compared to a 29% growth forecast for the industry in South Africa. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to R76.50, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 26x in the Software industry globally. Total loss to shareholders of 19% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R45.32 per share. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Non-Executive Director David Maw is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 16% share price gain to R96.00, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 30x in the Software industry globally. Total returns to shareholders of 15% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R47.18 per share. Recent Insider Transactions • Jan 18
CEO & Director recently sold R54m worth of stock On the 14th of January, Neil Murphy sold around 500k shares on-market at roughly R107 per share. This was the largest sale by an insider in the last 3 months. This was Neil's only on-market trade for the last 12 months.