Turnover is up 24 per cent to£75.7m including£8.8m from French Thornton and Easams both acquired this year. The underlying growth reflects industry trends at 10 per cent. Operating profit is up 22 per cent to£4.9m.
Public sector revenue has grown by 12 per cent to£38.2m. ITNET
maintained its excellent record on customer renewals with contracts for Westminster, Bexley and Kensington & Chelsea LBCs. New contracts have been signed with the London Pension Fund Association, Slough BC and Croydon LBC.
- Turnover up 24 per cent from£61.0m to£75.7m
- Operating profit up 22 per cent from£4.0m to£4.9m
- Earnings per share up 12 per cent from 4.2p to 4.7p
- E-business services revenues doubled
- Forward order book of£285m
Other announcements being made today include:
- Partnership agreement signed with Siebel Systems to provide a
leading CRM solution to local authorities
- First customer for OneGov, the range of services launched by ITNET for local government
ITNET chief executive Bridget Blow said: 'We have continued to grow across our principal markets. The market is recovering from Y2K, which is reflected in the number of recent new business wins including several e-business projects.
'Our continued strategy is to develop long-term IT contracts with higher margin, project-related consultancy, applications and e-business services.
'Looking forward, we expect further increases in revenue from e-business and indeed the growth to accelerate due to ongoing support of e-business projects.'
For the full set of ITNET's interim results see.