IRISH software company, Iona Technologies, has reported a 31 percent rise in after tax profits, from $1.1 million (£733,000) to $1.4 million (£903,000), in the three months to the end of March.

According to its latest figures, turnover at the Irish-based company, which is listed on New York's NASDAQ exchange, rose from 53.7 million (£2.4 million) to $9.1 million (£5.9 million) in the first quarter.