Azeus Systems Holdings, the provider of IT consultancy services based in Hong Kong, today reported a rebound in net profit to HK$10.4 million ($1.9 million) on the back of a 22% increase in revenue to HK$93.5 million for the full year ended March 31, 2010 (FY2010).
 

IT Services, the group’s main revenue contributor rose 43.0% to HK$58.5 million in FY2010, compared to HK$41 million in FY2009. The fees from IT Services were higher in FY2010 mainly due to a higher percentage of completion of the two major contracts secured in previous years, as well as higher third party sales in FY2010 as compared to FY2009. IT Services accounted for 62.6% of total revenue during the period under review.

Maintenance and Support services segment dipped slightly by 3% to HK$25 million in FY2010 compared to HK$25.7 million in FY2009, as a result of the decrease in the number and value of contracts renewed yearly. This segment represented 26.7% of group revenue.