- Arcontech's pre-tax profits rose by 3% to £216,270 in the six months to the end of December.

Turnover fell to £1,115,232 from £1,132,246 which, the group said, reflected the residual impact of the termination of a significant contract with an Asia focused bank which was announced on 26 March 2015 and became effective from 1 January 2016.

The group said the annual run-rate of recurring revenues at 31 December 2016 increased by 21% to £2.3 million (at 31 December 2015: £1.9 million).

Chairman Richard Last said: "The board is pleased to report that the Group has continued to make progress.

"Revenue lost in early 2015 has been replaced such that recurring annual licence fees amounted to £2.3m as at 31 December 2016, a 21% increase compared to the level at 31 December 2015.

"In addition, the Group has continued to invest in product development.

"The launch of a new desktop software solution is gaining positive interest with existing customers.

"The board expects results for the full year will be ahead of current market expectations and remains positive about the group's prospects."

At 8:01am: [LON:ARC] Arcontech Group PLC share price was +4.5p at 52p

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