LONDON (Thomson Financial) - Intelligent Environments Group Plc. more than doubled its full-year pretax profit but said it still has accumulated trading losses in excess of 8 million pounds to offset future trading profits.

The company posted pretax profit of 891,992 pounds compared with 405,912 pounds a year ago.

Revenue rose to 6.2 million pounds on increased consultancy revenue from 4.4 million pounds a year earlier.

It said it believes it in now in a strong position, adding it expects to achieve an increase in earnings for the current financial year.

Financial services internet portal provider Intelligent Environments (IEN) said pre-tax profits for the year to 31 December 2007 came in at 0.9 million pounds, versus 0.4 million pounds in 2006, on revenues up by 43% at 6.24 million pounds, giving basic earnings per share of 0.62p compared with 0.36p last time.

It said it believes it in now in a strong position, adding it expects to achieve an increase in earnings for the current financial year (Dawney Day suggests 0.92p EPS for 2008).

The company's strategy of targeting global players, such as Unisys and RBS, has enabled it to reduce its dependency on the UK market, and revenues arising from partnership agreements now account for more than half of total revenues, having doubled year-on-year. Broker Dawney Day kept its 'buy' rating for the shares, commenting: "we believe that Intelligent Environments justifies a substantially higher rating." IE shares jumped 0.625p to 7.75p.

The stockmarket report from UK-AnaIyst.com for Thursday 17th April 2008