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08 Dec 2009
COA Solutions, the financial software company, posted better than predicted results for the first half of the year.
The company is 18% ahead of budget with its earnings before interest, taxes, depreciation and amortisation coming in as £6.8m compared with £5.1m for the same period in 2008.
COA also claimed its licence orders increased 13% compared with the first half of 2008.
Mark Thompson, managing director of COA Solutions said: “The recessionary climate has caused the business applications software market to plateau with the impact being most severe on new business opportunities as a result of potential customers locking-down capital expenditure."
"To have bucked the industry trend with a considerable increase in new business licence orders is therefore highly encouraging,” he added.
The company has attributed the achievements of the half year results to the success of its recent launch of online software.
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