Swedish enterprise resource planning (ERP) outfit IFS's second quarter results show a 94 per cent increase in profit on increased revenue of just 2.2 per cent.
IFS revenue for the second quarter increased to £58.1m up from £56.8m in the same quarter last year, while profits soared from £2.9m to £5.7m.
IFS boasted of a number of contract deals in the second quarter, with the biggest being an unnamed leader in project management and engineering for the oil and gas industry. This deal was worth between £8.4m and £12.6m.
The other big deal was with well-known distillers William Grant & Sons, worth over €3.6m (£3.0m).
Licence revenue increased 26 per cent from £6.2m to £8.3m for the second quarter 2010 on the same quarter last year, while there was a 20 per cent increase in IFS's consulting arm.
Maintenance and support revenues registered a fall of 1.6 per cent owing to currency fluctuations.
In the company's second quarter financial performance summary, IFS chief executive Alastair Sorbie said: "The outlook for the full year remains unchanged; we [still] expect moderate growth excluding the effects of acquisitions."
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