Internet services company Horizon Technology has reported pre-tax profits of 4.4 million euros for its first half to the end of December, on record revenues of 183.3 million euros.
When figures from Horizon's Application Service Provider division i-Fusion, launched in April, are stripped out, pre-tax profits rose 55% to 6.6 million euros. Horizon had flagged that i-Fusion would lose money initially due to the high level of investment needed.
The company has also announced a number of changes to its board, which will see founder and former CEO Samir Naji become executive chairman. He will be replaced as CEO by group operations director Charles Garvey.
Kevin Melia has resigned as chairman but stays on the board as a non-executive director. Cathal O'Caoimh becomes chief financial officer.
