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IMPROVEMENTS DRIVE UP ITNET PROFITS£200K

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IT contractor ITNet has unveiled an adjusted operating profit of£16.5m, up from£16.3m in 2002. ...
IT contractor ITNet has unveiled an adjusted operating profit of£16.5m, up from£16.3m in 2002.

The company's turnover rose to£188.5m from£179m, partly on the back of improvements in its local government division.

Its order book from councils stands at£181.4m, and local government work saw an 8% increase in turnover to£84.8m.

This included a new contract for£25m with East Sussex CC to run its exchequer, payroll and pensions operations, Staffordshire CC's e-government project, which links 13 public sector bodies, and a joint IT management contract for Lichfield DC and Staffordshire Moorlands DC.

The year also saw a one-off£1.9m payment from Islington LBC, which arose from the restructuring last year of its controversial housing benefit administration contract.

Chief executive Bridget Blow said she planned to strengthen the company's market position in local government.

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