Team Internet Share News (TIG)

Business process outsourcing firm, Innovation Group, bounced back into the black in the six months to 31 March, with pre-tax profits of £4.26m In the same period last year the company racked up £1.03m in losses and a £1.7m loss for the full year to the end of September.The board said it was confident in meeting full year expectations after strong growth in software revenue and high profile business process outsourcing wins, including a deal to provide maintenance, repair and servicing for Tesco Cars customers.Innovation reported earnings per share of 0.22p and said it had a cash pile of £29m.Chief executive, Andy Roberts, said he was particularly pleased with the performance of the group in the first half. "We have seen a return to strong organic growth and improved margins," he said."This, and the early success of our recently launched Insurer software gives the board confidence in meeting full year expectations."----mm