Technology group Horizon today beat forecasts with increased revenues of almost £193 million sterling for the first half of the year.
That represented an increase of almost 15 per cent on the previous six months.
Earnings before interest and tax came in at £4.1 million, while operating profit stood at £1.5 million.
Announcing results for the six months to the end of June, the company said its net debt had been reduced from £34.7 million at the end of last year to £3.3 million. Costs were reduced from £17 million in the first quarter of 2001 to almost £7 million.
Shares in Horizon rose 25 per cent this morning on foot of the announcement.
The company has completed a major restructuring of its operations, with the loss of almost 500 jobs in the last year.