Kainos, the Belfast-based IT consulting company, has posted a 13 per cent rise in turnover to €18.5 million for the year ended in April 2007. Profits for the period also increased substantially to just under €1 million.

The company has credited its strong financial results to strong sales performance and an increase in demand for technology consulting in both the UK and Ireland.

In the past year, Kainos added 30 new customers and extended contracts with several existing accounts.

New customers this year include Royal Liver, Barclays, Eagle Star, Axa, Northern Ireland Civil Service, Down and Lisburn Trust and the Audit Commission.

Staff numbers at the firm rose by 40 per cent to 220 employees. While the majority of its staff - around 140 - are based in Northern Ireland, most of its business is now generated from the Republic of Ireland where it has an office in Dublin.

"We have continued to deliver strong growth throughout our business, which clearly demonstrates our ability to manage fundamental change while delivering excellent organic business growth," said managing director Brendan Mooney.

"I am confident that further strong revenue and operating profit growth will be achieved in the current year."

In April, the company announced the launch of SpeechStorm which develops and delivers automated, speech-based applications, as a separate operating division. A total of 18 customers currently use its pre-packaged, telephone-based speech applications.

Kainos has also opened a new office in London.