The results come on the back of wins in the enterprise and public sector markets, totalling more than £3m.
Blue Sheep has recently secured investment in its online database, ukbusinesstracker.com and has expanded its email database to house more than 600,000 contacts.
The company's core aggregated database, The UK Business Universe, has expanded to hold over 4.4m businesses.
Iain Lovatt, joint managing director of Blue Sheep, said: "Our sales growth forecasts are well ahead of target and are looking strong for 2007. The results reflect our commitment to investment in new products and services and long-term commercial relationships.
"Blue Sheep is raising its profile by offering services which make a real difference to business performance. Clients no longer look simply to buy data but are investing in ways to make greater sense of customer information and how best to communicate with them."