Further IT growth on the Horizon as company announces profits of €9.1m

HORIZON Technology has reported a 5% increase in sales revenues for 2005, up from €281 million to €294m.

Its trading profits rose 7% to €9.1m, from €8.5m, while the group achieved a 10% increase in earnings per share, to 9.73 cent, and said it expects modest market growth to continue.

Despite the improved performance and the positive outlook, shares in the group fell 13 cent to €1.13 in Dublin, by late afternoon, as investors took some profits.