IT service provider Adept4 (LON:AD4) saw shares rise on Wednesday, after reporting strong preliminary results for the year to September 2017.

The group reported revenues of £10.3 million, up from £4.9 million last year, with a gross profit margin of 60 percent.

Recurring revenues came in at £7.3 million, up from £3.2 million the previous year, representing 71 percent of total revenues. The group’s losses before tax also shrunk, to 0.8 million from £1.4 million the year before.

Simon Duckworth, Adept4’s chairman, commented:

“The creation of a single operating platform for future growth has been at the heart of everything that we have sought to do in the last 12 months. The successful establishment of an integrated business with a single brand, proposition, structure and platform was imperative, and I am pleased to report our success in achieving this objective. We look forward to success in the future with this business model.”

Adept4 shares are currently trading up 1.41 percent at 3.60 (1020GMT).