The company has doubled in size in 2007 and this morning recorded profits of £2.44m over the  year, according to its annual results.

Tangent, which announced its maiden dividend, increased its margins by 1.6% to 14%, and its revenues by 102% to £17.4m.

Nicholas Green, joint chief executive of the business, attributed much of the upturn in sales to the acquisition of Ravensworth in March 2007.

"The acquisition of Ravensworth was a very important step in our development," he said in a statement.

"It gave us the capability to deliver new outputs and, crucially, it has given us the scale to compete for larger contracts and bigger clients."

He added that the Ravensworth's Newcastle site would be increased by 930sqm to 2,320sqm.

Other revenue streams for the company include Home Information Packs (HIPs), of which it now claims to be the third largest supplier in the UK, and it expects this market share to grow during the next quarter.

In addition, the company said it had "extended its leadership in online local marketing solutions".

In the past year it has signed up a number of large corporate clients, including Gala Coral Group and boosted margins through "pure technology sales".

Of the failed proposal to acquire the TMN Group earlier this year, Tangent said it had withdrawn from the process when it became an "auction process". It added it had not incurred any material costs associated with the proposal.