The Channel logo

News

By | ElectricNews.net 10th May 2007 19:08

Horizon sees sunny skies ahead in 2007

Buoyant UK and Ireland markets

Horizon Technology, the Irish-owned reseller, expects 2007 results to be in line with market expectations.

Speaking at the company's annual general meeting on Thursday, chairman Samir Naji told shareholders that the board was pleased with the group's performance during the first quarter.

"The IT market in both the UK and Ireland continued to show growth to date in 2007," he said.

"In this environment, Horizon has performed well, with year on year earnings growth across all business segments. This is the result of increasing market share in our target markets, focus on higher-margin segments and the expected benefits from acquisitions," he added.

Horizon posted a 30 per cent rise in profits for 2006, boosted by a string of successful acquisitions. The company sold off its distribution business Clarity Ireland to the British firm Westcoast for €6.2m last year to concentrate on higher-margin enterprise solutions sales.

Revenues from its continuing operations soared to €257.9m in fiscal 2006, almost double 2005 levels, while profit after tax climbed from €4.27m to €5.55m.

Horizon was founded in Ireland in 1998 and currently employs 160 people at a software development centre in East Point Business Park in Dublin.

Copyright © 2007, ENN

alert Send corrections

Opinion

Chris Mellor

How long before Blue Big HQ pulls the plug on the whole thing?

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap

Features

Windows 8.1 Update  Storeapps Taskbar
Chinese Buffet self-service
Chopping down the phone tree to scrump low-hanging fruit
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.
Big Blue's big $5bn bet adjusted, modified, reduced, back for more
Microsoft CEO Satya Nadella
Redmond needs to discover the mathematics of trust