Interim operating profits at British computer services group Fayrewood, in which entrepreneur Mr Pierce Casey has a 15 per cent stake, rose 59.7 per cent.
The rise, to £4.12 million sterling (€6.82 million) from £2.58 million was on the back of a 47 per cent increase in turnover to £112.7 million in the half year to the end of October.
Pre-tax profits were £2.78 million, down from £10.95 million a year earlier. Last year's figure, however, included an exceptional gain of £8.46 million.
Shareholders will share dividends of £189,000.
The bulk of Fayrewood's business is accounted for by its 51 per cent stake in Computer Links, the Neuer Markt-listed IT marketing operation.
ComputerLinks made four acquisitions in the first half, including Alpha Media, which Fayrewood bought for £4.7 million and sold to ComputerLinks for £22 million.
Mr Casey said Fayrewood was seeking to enhance shareholder value. Fayrewood is valued at £69 million. Its Computer Links stake is worth €185.8 million (£146.3 million).
