IT SERVICES group Calyx has posted a 54 per cent increase in turnover to €135 million in 2007 and is rebranding its nine divisions, which include Dublin IT security specialist Entropy, under its own name.

This is the first financial update from the group since it was taken private last July in a management buyout (MBO), led by chief executive Maurice Healy, that valued the company at €103.6 million.

Calyx, which had a dual listing on the IEX market in Dublin and Alternative Investment Market in London before the MBO, has been highly acquisitive in recent years and is planning more takeovers.

The company said its turnover more than trebled over the last two years but it declined to give a profit figure for 2007.

It made a pretax profit of €2.2 million in 2006, up 29 per cent on the previous year.

Mr Healy said: "Calyx plans to more than double in size again over the next few years.

"There are plenty of opportunities out there in Ireland and the UK, and we plan to continue our successful track record of expansion through acquisition and organic growth."

He said the rebranding would allow the firm to be "better placed to absorb and integrate acquisitions as we continue to grow".

As part of the rebranding, the group's divisions, including business software company Mentec, acquired in 2006, will adopt the Calyx brand name from today.

The company's UK subsidiaries will also be renamed.

Calyx, which is based in Dublin, employs more than 500 people in 12 locations in Ireland and the UK. Its clients include AIB, Citigroup, O2, London Fire Brigade, hospitals and government departments.

Calyx acquired ServiceTec, its first acquisition since the MBO, last November.

It bought British network specialist, the Matrix group, in June 2006 for €40.5 million and Entropy for €4.95 million in March of that year.