Software company EG Solutions crept into a slight profit after sales increased 13 per cent last year.
The Stafford-based firm, which specialised in outsourced software solutions, revealed sales had risen to £4.2 million in the year to January 31, compared to £3.7 million the year before.
That meant it was able to post a pre-tax profit of £100,000 a year on from revealing a loss of £800,000.
Non-executive chairman Rodney Baker-Bates said the recent acquisition of XTAQ for up to £230,000 should benefit the firm next year.
He said: “In recent months new orders signed with existing customers have demonstrated eg’s ability to sell more deeply and widely into our existing customer base. We have started this year with a solid order book which, together with contracted recurring revenues, account for over 50 percent of our expected revenues for the year excluding XTAQ as at today’s date.
“The acquisition of XTAQ should be earnings enhancing in the current year, based on contracted recurring revenues and expected immediate product sales. XTAQ has a significant sales pipeline; if satisfactory progress can be achieved in converting these prospects into firm orders, the potential for the enlarged group is good.
“After a very tough three years, eg is now well placed to deliver growth over the next year and beyond.”
Across the year, EG Solutions revealed contract wins with firms including Nationwide Building Society and Legal & General.
The company also revealed it was able to cut costs by nine per cent, or £400,000.
