Silverbridge is an AltX-listed IT company with niche applications for the insurance and financial services industry.  I have fairly recently done a rough valuation on the Group using a normalized earnings basis, but the latest trading update shows that the Group's future profits may now be ramping up in growth rate.

On SENS this morning Silverbridge announced that it expects its EPS and HEPS to be between 37c to  40.5c for its coming final results for the year ended February 2010.  This is above the normalized profits and--while I reserve final judgement before seeing the actual results--may indicate a new phase of growth for the promising business.

SVB is currently trading at around 195c (up 14.71% since the news) at a (low range) PE of  on 5.27 times.  The bidding spread, though, is fairly massive with the nearest sell only at 290c or almost a 50% premium to the current market price.

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