Sirius Financial Solutions, the insurance software company, reported £1.9m profit before tax compared to a loss of £281,000 in 2001.
Turnover increased by 30% to £22.7m, from £17.4m in 2001 and the company's recurring revenues were up, at £6.3m compared to £6.1m in the previous year.
The company cut its gearing to zero from 28.1% at the end of last year and increased dividend payments, with a proposed final payment of 1.7p compared to 1.5p in 2001.
Earnings per share was 6p, compared to a loss of 4p in 2001.
Chief executive Stephen Verrall, whose pay was increased to £242,250 last year compared to £189,863 the year before, said: "We embarked upon 2002 with an ambitious vision to achieve exceptional performance in what was already a challenging market.
"In 2002 we grew sales by 31%, driven by market-leading products and a loyal and growing customer base."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
