Epic, the Brighton-based online learning company has reported a 60 per cent rise in profits to £765,000 for the year to May 31.

Turnover for the year was up by 43 per cent at £4.39 million.

Company chairman Michael Inwards said the company had experienced rapid growth in its core online learning business as a result of continued success at increasing revenue from both existing and new customers and the continued growth in the market.

He said: "To build on our leading market position, we have invested heavily in sales and marketing. This investment has continued in the new financial year. We have also managed to grow our online government division and have recruited a director of e-government."

Epic's order book was standing at a record level at May 31 and the company has won a number of significant orders since.

Mr Inwards said: "Repeat business remains strong from the Royal Bank of Scotland, British Airways, BOC and PricewaterhouseCoopers. New contracts have also been closed in banking, insurance, global telecommunications companies, utilities and retail."