Newcourt Group, the security services and recruitment group, has reported a 49 per cent increase in first-half profits.

The company, which posted a pretax profit of €1.8 million, compared to €1.2 million a year earlier, said it was optimistic the strong performance would continue in the second half.

Turnover in the period rose by 52 per cent to €45 million, with acquisitions accounting for €5.7 million of the €15.5 million increase in revenue.

Total trading profits rose by 42 per cent to €3.7 million as profits in its security division increased by 33 per cent to €2.5 million.

Its recruitment and aviation outsourcing division posted an operating profit of €1.25 million, up from €538,000 a year earlier.

A profit of €105,000 from its facilities management business partly offset a downturn in its electronics business. In London, the share price added 1.5 pence, (€0.02) or 1.8 per cent, to 86 pence, but it lost four cent to €1.24 in Dublin.