In the 12 months ending March 31, 2006, the Guildford, UK-based company posted a 56% rise in net profit to 9.6m pounds ($18.1m) on revenue that increased 45% to 101.5m pounds ($191m). Organic sales growth was 38%.
Some 57% of the company’s revenue came from providing IT services to UK government security agencies, and this part of the business grew sales 51% to 57.5m pounds ($108m). Detica’s largest client in this area is the Department of Revenue and Customs, with whom it developed a system to prioritize the Department’s investigations of incoming freight into the UK.
The company is hoping to replicate success with domestic government security agencies in the US, after gaining the necessary approval to bid directly for projects on the other side of the Atlantic last September. Detica has 19 staff at its US operation and has won four contracts with three US government clients since it began trading.
Detica’s fastest-growing division was its unit focused on the telecom, media and technology sector, where sales grew 100% to 15.9m pounds ($29.9m). It said there was strong demand for information management projects from clients such as Vodafone, and other companies which want to gain a more consistent view of their customer bases.
Detica said that it is looking for external investment in its StreamShield Networks division, which develops internet security gateways for carriers and internet service providers. StreamShield, whose StreamScan engine can scan 250,000 web page requests and 5,000 e-mails per second for threats, has a developing relationship with network equipment giant Cisco Systems.
Shares in Detica rose 3.3% to 12.78 pounds ($23.99) on the London Stock Exchange following the announcement to give it a market capitalization of 286m pounds ($538m).
