Calyx, the AIM-listed company that supplies internal telecoms and IT systems, has reported an 89 per cent increase in pretax profits to €641,530.

The company, which raised €9.1 million from its AIM listing,said revenues increased by 5 per cent to €18.2 million and gross margins were up from 33 per cent to 36 per cent.

The results cover the six month period ended June 2005. At the end of this period the company had net cash balances of €5.9 million.

The company had earnings per share, excluding goodwill amortisation and exceptional items, of 2.97 cent.

Maurice Healy, the chief executive of Calyx, said the company had been through a "period of transition" in the last six months.

The company said it had generated significant business during the period under review, including contracts with Vodafone, the American Embassy, the Department of Communications, AIB Internet Banking and AXA Insurance.

Since the period ended Calyx has acquired a company called Convergent Systems for €600,000.

The purchase was made by way of a €300,000 cash payment and another cash payment of €300,000 will be paid once certain goals are achieved.

The company said it would consider other "suitable, synergistic and earning enhancing" acquisitions in Ireland and the UK.