After tax profits at specialist IT recruiter Interquest rose to £2.7m for the 12 months ending 31 December 2008, compared to £2.4m for 2007.

Revenue increased  by 22% to £105m (2007:£86m).

Gary Ashworth, executive chairman, says: “In 2008, the group has delivered continuing growth in revenue, gross profit, EBITA, profit before taxation and earnings per share. We have reported the best set of figures in our seven-year history.

“Very importantly in these difficult times we have reduced our net debt quite substantially from £9.3m to £5.5m and strengthened our balance sheet for the future. We believe that this is a testament to our niche-focused specialist business model and the commitment of our people.

“The current economic environment is uncertain. However, we believe that our specialist business model, strong bias towards contract recruitment and healthy balance sheet will stand us in good stead during 2009 and gives us a robust platform for future growth when the economy improves.”