Profits at computer and technology products and services supplier Calyx grew by nearly 10 per cent to €1.74 million last year, the group said yesterday. Barry O'Halloran reports.

London-listed Calyx said turnover at the Irish-based company grew 12 per cent to €38.4 million in 2005 from €34.2 million the previous year.

Operating profits grew 40 per cent to €3.12 million from €2.23 million. A near €600,000 bill for re-organisation costs and an €880,000 interest charge brought profits before tax in 2005 to €1.74 million. That was almost 10 per cent ahead of 2004 pretax profits of €1.6 million.

The company recorded basis earnings per share for 2005 of 4.01, a fall of 40 per cent on the 6.36 cent it posted in 2004. However, the company issued new shares during the year.

The company's balance sheet also strengthened, with shareholders' funds growing to €12 million from €745,000. It also had €6.4 million cash in the bank at the end of the year.

Calyx, which was originally spun out of Alphyra, has been going through a period of growth since last year's flotation on London's Alternative Investment Market (AIM). Last week, it bought IT security specialist Entropy for close to €5 million.

Commenting on the results yesterday, Calyx chief executive Maurice Healy said 2005 was a successful year for the company. He pointed out that, against the background of the flotation and acquisition, its core business delivered extra turnover and margin growth.