14 months ago this venture was a rag bag of vague software interests going nowhere fast (and losing a lot of money in the process). Now, however, under the guidance of chairman Michael Jackson and director Vin Murria, it is a thriving, cutting-edge software venture generating increasing sales and profits. It has got into this position by making choice acquistions in dynamic niches and also by reinvigorating its management and sales componenets. The benefits can be seen in the results for the year to February, which saw turnover almost double to £6.3 million and operating profits hit £604,000 against losses last time of £148,000. As things stands, CSG offers specialist accounting, payroll and distribution software solutions, all on the IBM i-Series and NT Platforms, as well as i-Series-based products in the sports, customer relationship mangement and e-business fields. Its clients range from the likes of football clubs such as Manchester City and Chelsea (to which it supplies smartcard ticketing systems), to the Chartered Institute of Housing (they take the Integra product that links their UK and Hong Kong offices) and BMW Williams F1 (a buyer of cashflow forecasting, purchasing and order mangement solutions). The coming year is likely to see yet more improvements on the trading front and much activity on the corporate front - Murria hopes to turn CSG into one of the main consolidators of its very diverse and fractured sector. If you bought on our advice at 42p in February, keep holding the shares.