Data capture firm Kofax said it had met annual expectations after a strong fourth quarter.

The firm posted record revenues of $262.5m in the year to the end of June, up 7.6% on the previous year.

Profits came in at $27.4m, up from £26m the year before, with earnings per share steady at 21 cents.

The company said it intended to maintain its policy of not paying dividends in favour of investing the money in growing the business.

Going forward Kofax highlighted the unpredictable global macroeconomic conditions and the recessionary environments that have emerged in many Western European countries.

"As a result, for fiscal year 2013 our guidance is for mid to high single digit total revenue growth on a constant currency basis and an adjusted EBITDA [earnings before interest, tax, depreciation and amortisation] margin of at least that reported in fiscal year 2012," said Chief Executive Reynolds Bish.

"This is based on low to mid single digit revenue growth in our core capture business with significantly greater revenue growth rates in acquired businesses and from our new Kofax Mobile Capture product."

Pennant International, the training firm focused on defence, rail and aeronautics clients, has reported big rises in revenues and profits as a steady stream of major contracts has buoyed first half results.

Revenue for the six months to the end of June was £7.1m, up 43% on the same period of last year. The profit before tax figure was even stronger, almost tripling from £0.272m to £0.755m.

Earnings per share have risen 207% to 2.21p while the dividend has been declared at 0.6p per share, a rise of 20% on 2011.

A number of key contracts have been won during the last six months, including a maintenance training equipment contract with Augusta Westland for the Lynx Wildcat helicopter.

The firm has also upgraded its virtual reality parachute trainer.

Pennant International's Chairman, Christopher Powell, said: ""Both the Training Systems and the Data Services divisions have been working on major contracts and there has been growth in consultancy revenues in the Software Services division.

"The pipeline continues to be strong and active with opportunities for new orders this year and in the medium term."

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