Software reseller enjoys reboot after profit alert

By the Editorial Team · Friday, September 18, 2026

Bytes Technology Group reported a 19 percent rise in revenue and an 18 percent increase in gross profits for the first half of its fiscal year, leading to an upgraded full-year profit forecast. This strong financial performance boosted investor confidence, sending shares up 12 percent to their highest level since mid-2025.

Bytes Technology Group, a leading software reseller in the United Kingdom, reported robust financial results for the first half of its fiscal year, alleviating investor concerns about its positioning amid the artificial intelligence expansion. The company, which holds the status of Britain’s largest reseller of Microsoft licenses and distributes software from over 200 other providers, announced that revenue for the six-month period ending in August rose by 19 percent, while gross profits increased by 18 percent.

This strong performance has led Bytes’ management to revise upward their full-year gross profit forecast, now anticipating growth in the "low to mid-teen" percentage range. This marks a significant upgrade from previous market expectations, which had projected a high single-digit increase. Following the announcement, shares of Bytes surged by 12 percent to 450 pence, reaching their highest level since a surprising profit warning in July 2025.

Elsewhere in the UK market, Marks & Spencer saw its shares decline 1.7 percent to 365 pence. Retail analyst Clive Black of Shore Capital highlighted the challenges facing the UK clothing sector but noted that M&S has achieved meaningful gains in market share for its food division. This development is seen as positive for Ocado, the online grocery delivery service partnered with M&S, whose shares advanced 7 percent to 227.5 pence. The rise was supported by commentary from Berenberg analysts citing growing momentum for Ocado.

The broader London stock market also experienced gains, assisted by a decline in UK government bond yields following the Bank of England’s decision to halt gilt sales. The FTSE 100 index increased by 1.2 percent, finishing at 10,816.14 points, just shy of its February record high. Similarly, the FTSE 250 rose 1.2 percent to close at 24,352.14 points.

Among other notable performers, Kingfisher’s shares rose 2.9 percent to 309.5 pence after Deutsche Bank analysts raised profit expectations for the home improvement retailer. Despite a subdued consumer environment in Europe, DIY sales at Kingfisher’s B&Q outlets have remained resilient, prompting the upward revision.

Precious metals miners also benefited from higher gold and silver prices, which advanced by more than 2 percent amid a weaker US dollar. Africa-focused gold producer Endeavour Mining's stock increased 3.6 percent to £46.74, while Mexican silver miner Fresnillo added 3.1 percent, closing at £30.04.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.