The group has moved into the black after posting operating profits of 222,000, up 276,000. It has also reported net cash of 224,000 following a net debt of 512,000 in 2004. Earnings per share were at 40p and ongoing sales were up 10% at 2.9m.

"We believe this clearly demonstrates that the merger of Documedia and the formation of Tangent has been good for shareholders," said Tangent director Nick Green (pictured). "We are winning new business as a result, but we are also focused on going to existing customers and offering more services."

Tangent was the parent company of London Digital Printing Group. It engineered a reverse takeover of Documedia and created a new 8m turnover marketing services and digital print business.

During the first half of the year Tangent's new client wins included Virgin Mobile, Threshers and NCP.

Green added that there would be more acquisitions on the way but remained tight lipped on who it would be.

"We are definitely in discussions with several organisations," he said.

Six-month results
- Operating profit at 222,000
- Net cash at 224,000
- EBITDA before goodwill and exceptionals up 487% to 323,000
- Earnings per share 40p
- Ongoing sales up 10% at 2.9m