Detica follows landmark IPO with continued profits

NEWS IT services company Detica is promising to continue its 25-year run in the black despite current conditions in the industry. Detica, formerly known as the Smith Group became the first tech company in a year to float on the London Stock Exchange back in April. Its maiden set of results show pre-tax profits - excluding the costs of the IPO - of £5.8m for the year. This is an increase of 25 per cent on last year. Although this morning it traded into the green by two per cent to 340p, the company is still down on its debut price of 400p. The company has said it will retain its focus on CRM buoyed by what it describes as strong demand for its services.