UK’s Bytes Tech plunges 27% after profit warning

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Shares of UK’s Bytes Technology plunged over 27% on Wednesday after the IT firm said its operating profit for the first half of fiscal 2026 would be marginally lower due to delayed customer payments and longer-than-expected readjustments from internal restructuring.

Trading in the first few months of the year was hurt by macroeconomic pressures, leading to deferred customer decisions, particularly among corporates, the firm said in an update to the exchanges ahead of its annual general meeting.

The stock fell as much as 27.43% to 369 pence, the lowest…



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UK’s Bytes Tech plunges 27% after profit warning



Shares of UK’s Bytes Technology plunged over 27% on Wednesday after the IT firm said its operating profit for the first half of fiscal 2026 would be marginally lower due to delayed customer payments and longer-than-expected readjustments from internal restructuring.

Trading in the first few months of the year was hurt by macroeconomic pressures, leading to deferred customer decisions, particularly among corporates, the firm said in an update to the exchanges ahead of its annual general meeting.

The stock fell as much as 27.43% to 369 pence, the lowest…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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