Autonomy lifted by new orders

Autonomy says it is ready for an economic upturn

Shares in Autonomy recovered moved slightly higher after the software group reported growing sales and profits.

Autonomy said sales in the three months to the end of September amounted to $11.5m (£7.4m), with profits at $0.4m.

Chief executive Mike Lynch said he was confident about the company's prospects.

There was continuing demand from large corporate and government clients buying both established and new products, he said.

And Autonomy was well placed to take advantage of any change in the business climate.

Increased spending

During the three months to the end of September, the group won new business from customers including British American Tobacco and Boeing.

Autonomy said that repeat business from clients such as the US State Department and various US security agencies accounted for 35% of sales.

The group said it had increased its spending on research and development and had launched a number of new products.

Autonomy makes data analysis software and has bases in Cambridge and San Francisco.

It attracted huge interest when it floated on the stock market, it became a constituent of the FTSE 100 blue-chip index and its share price peaked at £42 in November 2000.

This year, shares have fallen 60%, but they recovered some ground on Thursday, closing up one penny at 133p.