LONDON (ShareCast) - (Sharecast News) - AIM-listed market data provider Arcontech said profits from its recently ended trading year had come in "comfortably ahead of market expectations".
Arcontech, which expects to post its fully audited results for the year ended 30 June on 23 August, also told investors that its net cash balance had risen roughly 23% year-on-year to £3.2m.

When turning in the firm's interim results back in February, Arcontech chairman Richard Last, chairman of said: "Arcontech's ongoing investment in product development and enhancement, coupled with the flexibility provided by its strong balance sheet and high level of recurring revenues, supports the board's confidence in the groups long term future and its ability to meet the challenges in its business environment."

"Although we remain mindful of the long and unpredictable sales cycles we often face and the challenges this brings in predicting the timing of contract wins, the board expects results for the full year to be in line with expectations."

As of 1430 BST, Arcontech shares had surged 20% to 90p.

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