Hosting services provider Hostworks Group Limited (ASX:HWG) has announced year of growth in profit. Hostworks recorded a 172% increase in net profit after tax to $1.05m for the year ended 30 June 2005 and declared a final dividend of 0.5 cents per share.

Hostwork also saw an increase in annual revenue of 14% from $14.21 million to $16.34 million with operating profit before interest, tax, depreciation and amortisation of goodwill (EBITDA) increasing by 26% to $4.22 million.

Marty Gauvin, the managing director of Hostworks, said the underlying strength of the company’s business model was
based on its leadership in the emerging outsourced applications sector. “As this sector matures, companies increasingly
recognise that outsourcing critical business applications requires service providers to have industry-leading secure
infrastructure, proven specialist skill sets and a focussed critical service culture,” he said.