Bytes (BYI) FY23 – Results Snapshot

Diluted HEPS increased by 21.3% y-y to 16.3pps.
Revenue improved by 26.5% y-y to £184m over the restated FY22 revenue of £146m.
GPM decreased by 330bps to 70.3%.
OPM declined from 44.7% to 42.7%.
Expenses increased by 20.7% y-y to £79m. Expenses to revenue have fallen from 44.7% to 42.7%.
Final dividend 5.1 pence declared, bringing the total dividend to 7.5pps. A special dividend of 7.5pps was declared for FY23.
Financial statements restated according to IFRS 15. All indirect sales are to be treated on an agency (net) basis.