Horizon profits up 13%

Horizon Technology Group has announced an increase in gross profits of 13% to €32.7m in 2004.

Turnover growth of 12% translated to operating profit growth of 38%. Diluted earnings per share (adjusted) increased by 22% to 8.67 cent.

Horizon chairman Samir Naji said: "Our objectives and strategy remain constant - to deliver shareholder value through the optimal development of our business as a technical integrator and distributor of information technology products in the UK and Ireland.

"Our exposure to the Irish economy, where we generate 52% of turnover, has been a significant strength during 2004 and is expected to prevail in 2005. Horizon’s strategy is to continue as a broad-based supplier of IT products and services within the Irish market."

Horizon is a technical integrator and distributor of information technology products in the UK and Ireland.