SaaS revenues rose 27% to £5.11m and the 12-month SaaS order book increased to £10.51m - up from £8.95m.

The firm posts an operating profit of £0.5m compared with a loss of £0.4m last time and a strong cash position with £3.1m at 30 September - up from £2.2m at the end of March.

Executive chairman Keith Todd said the firm's robust performance was delivered in a market recovering from the financial storms of 2008 and resulted from the strength of its SaaS business model and the effect of the cost saving.

Hed added: "With renewed stability and confidence returning to our markets, we are cautiously optimistic that will be able to continue to grow strongly."

Story provided by Business Financial Newswire