LONDON (ShareCast) - IT services and workforce management software provider Innovise (LSE: CPY.L - news) rallied today on news of a leap
in half year turnover and small improvement in adjusted operating profit.
Operating profit before interest, tax and amortisation of intangible assets rose to £670,000 in the six months ended 31 March, up from £651,000 a year earlier.
The company attributed much of the rise to January's acquisition of Infrasolve, which also helped turnover grow to £5.14m from £3.29m. Pre-tax profit eased to £363,632 from £427,856.
In a separate statement, the group said it paid £200,000 in shares for network and system management consultancy Harbrook Consultants.
"We see great opportunity for the future, and accordingly we will continue to make strategic investments in acquisitions as well as in organic growth to ensure that Innovise emerges strongly from the recession," said chairman Vin Murria.
The firm did admit its plan would likely cap short-term profit growth.
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