The firm, whose clients include Birmingham City Council and Westminster City Council, saw turnover rise by 24% to nearly£131m in 1999.
ITnet signed new orders worth£187m over the year, notably a£60m IT outsourcing deal with Enfield LBC. Following the announcement of its results, the company revealed it had signed a partnership agreement with Infobank to develop an e-procurement service for local government.
ITnet wants to launch the service, designed to slash council purchasing costs by creating an 'e-hub' of suppliers and purchasers, later this year.
Turnover up 24% from£105.7m to£130.8m
Operating profit up 33% from£7.6m to£10.1m
Earnings per share up 55% from 6.94p to 10.76p
Forward order book in excess of£30m.