UTN.L Share News (UTN)

Ultima Networks jumped by a fifth after the IT and green technology company revealed that 2010 profits will be "materially" ahead of market expectations, while turnover will be broadly in line.The IT services division, Cognito Software, continued to grow through increased sales of its range of software products and services, particularly its new legal software suite, 'FiLos'. As a result of the increased level of interest in FiLos, the group has increased its sales, support and marketing budget for the division in 2011.As previously announced, Ultima's green technology products division had a slow start to the year, though trading picked up in the second half. The level of major new orders for its mainland European version of the Infineum electric bicycle beat management expectations.Ultima remains confident that volumes for the 2011 calendar year will reach the division's target of 2,500 units.