Maiden result is profit for ITnet

ITNET, the computer systems specialist floated in June, said it hoped to clinch three outsourcing contracts in the next month as it unveiled its maiden results for the half year to 30 June.

Operating profits at the group, formed by a management/employee buyout of Cadbury Schweppes's IT department in 1995, rose by 16.3 per cent to pounds 2.9m. The group expects to pay its first dividend in April 1999.