Bytes plans to build on growth via acquisition

Bytes Technology Group is looking to increase revenues and could do so via acquisition

Bytes Technology Group is looking to expand the business by acquisition as it builds on a strong financial year.

The channel player has released its accounts for its year to 28 February with revenues increasing by 14% to £163m and operating profit coming in at £7m.

The fiscal year saw the firm dispose of its non-core Xerox reseller business giving it the chance to focus on software and services with its core vendors.

The managed print division was sold to Xeretec, one of the largest Xerox specialists in Europe, in May last year as part of a move to exit the document management space.

Top of the list in terms of vendor relationships was Microsoft, which accounts for 60% of the business, but there were also decent performances from Symantec, VMware, Check Point, Oracle, Mimecast and IBM.

Bytes has long been a flag waver in the software asset management space and that side of the business also improved. Services revenues improved from 4% to 7% of revenue and continue to climb.

Expansion was one of the key themes of last year with head count in existing offices increasing to the 250 mark, with efforts North of the border in particular positioning the firm as the largest Microsoft specialist in Scotland.

There are also indications that acquisition is on the cards in 2015 as Bytes looks to grow the turnover to £180m.

"We are pleased with the steady progress of the business and look forward to another strong year," said Neil Murphy, UK managing director of Bytes Technology Group.

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