Sword Group 2007 results

Sword Group, the France-based IT group that late last year acquired UK construction collaboration SaaS technology vendor CTSpace for just £6.5m, announced its annual results for the year ending 31 December 2007 yesterday. The group turned over €179m [£138m], up 26% from €142m [£109m] in 2006, generating a net profit of almost €19m [£15m], up from £16m. In its outlook for 2008, it forecast revenues of €220m [£169m] and said it expected its 2007 acquisitions to be complying with group norms on profitability by 1 July.