Irish technology company Horizon reported a better than expected results today and said the IT market had stabilised and that prospects for growth were more apparent.
The company - which distributes IT hardware and provides technology solution services - said higher margins coupled with lower costs lifted earnings per share by 44 per cent to 7.11 cent. Operating profit increased 28.6 per cent to €5.1 million.
Revenues of €250 million were split between solutions side which grossed €139 million while distribution sales were €111 million.
Horizon gave a cautious outlook for the year ahead but said sales enquiries, particularly from the finance and telecoms sectors had picked up. It warned, however, that although customer sentiment has improved, it is too early to confirm a sustained improvement in underlying trading.