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