Profits jump 20% at Autonomy

CAMBRIDGE-BASED software company Autonomy posted a 20.8% increase in second-quarter net profits today compared with the previous year.

Net profit jumped to $1.45m (£909,000) in the three months to 30 June from $1.2m in the previous year.

Autonomy's products help customers to automatically organise data from sources such as email and business documents, Its clients include AstraZeneca, Ford and the US National Aeronautics and Space Administration (NASA).

In April, Autonomy's global business had begun to return to normal in recent weeks after customers had delayed buying decisions in the build-up to the war in Iraq.

It said strong contract renewals meant deferred revenue at $5.1m was at its highest level in three years. Deferred revenue can arise where customers have paid for a good or service that has yet to be actually delivered.