Irish-based technology group Horizon reported a pre-tax profit for the year ended 30th June of euro 13.86 million, an increase of 2 per cent on the year.
Revenues increased by 38.25 per cent to euro 409.5 million, and earnings before tax rose 15 per cent to euro 18.5 million.
Earnings per share were up 5 per cent and came in at 17.45 cents.
Revenues for the group’s Internet services division jumped 50.3 per cent to euro 244.9 million.
The iFusion (ASP division) became SAP’s leading ASP in Britain and Ireland, signing 14 contracts worth euro 2.4 million during the year.
Analysts put Horizon’s good results down to the restructuring programme announced during the year.
Commenting on the results, Horizon chief executive Mr Charles Garvey said: "Despite the challenging and volatile market conditions facing Horizon, the group has performed well delivering a solid set of results.
"The group has reacted swiftly and decisively in light of the changes in the market and has completed a restructuring of its cost base. As a result, the group is now well positioned to deliver earnings in these challenging markets," he said.
