Horizon reveal 24% increase in profits

Horizon Technology has today announced its preliminary results for the year to December 31 2007, revealing an increase in gross profit of 24%

Other financial highlights included: revenue of €2.8bn, an increase of 12%; profit after tax of €5.8m and a 28.5% return on invested capital.

Gary Coburn, Horizon's Chief Executive Officer commented: "Horizon continues to develop as a valued and capable outsourcing partner for major global IT vendors. During 2007, we strengthened our position with existing partners and made significant progress with new partners such as Oracle, EMC and IBM.

"In addition, we continued to deliver both acquisition and organic growth during 2007 - both of which remain a focus for growth into 2008. Despite a challenging second half in 2007, Horizon has very strong businesses with key market positions, providing significant benefits to customers while ensuring resilient profitability, strong cash flow and superior returns to shareholders."