Revenues at computer services group Reflex fell to €3.66 million last year from €4.19 million in 1999. But pre-tax profits rose to €467,000 from €196,000 in the period.

The group's chairman, Mr Martin A Kilduff, attributed the fall in revenues to the "consolidation" of its rental business in Britain, which traded as one entity, First Rental Limited.

A related reduction in operating expenses led to improved margins, he said.

Earnings per share rose to €0.79 cents from €0.69 cents.

The stock rose to eight cents from seven cents on the Dublin market yesterday.