Ultima Networks says both its divisions were profitable last year.
Ultima has renamed its products division as the green technology products division to reflect the focus on renewable energy products. This division contributes two-thirds of revenues.
Powacycle, the electrically assisted bicycle brand, launched a range of new bicycles last year. Ultima is trying to build the sales of its energy saving products in the UK and Europe.
A newer subsidiary investing in building and operating solar parks has acquired land in Southern Italy. It plans to build a 3MW solar plant and has applied for planning permission. A pilot 100KW solar plant is expected to be constructed in Spain during this year.
The other division is IT services which develops software for the legal sector. The JCS acquisition has been integrated into the business.
Ultima has a stated aim of focusing on the green technology division so it is unclear if the software business is in its long-term plans.
Figures for 2008 will be reported in April.
Shares in Ultima edged up 0.05p to 1.55p each, which values the company at £3.17m.
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