Coda, the accounting software group, has reported a solid revenue growth of 8.1% to £28.1m for the six months to 30 June 2007 and predicted a strong second half as it rolls out its largest ever product release Neon.

'These are very positive results and we have shown that we are still able to grow and develop,' said Coda chief executive Jeremy Roche.

Roche said that Coda had benefited from expanding into new markets beyond its core financials offering, and had seen strong growth in consolidation and procurement software.

The Neon software package, Coda's largest ever product release, for example, will offer procurement and invoice matching functionality in addition to the core finance piece.

Roche said Coda had invested heavily in Neon and that it was committed to continually improving its offering to finance teams.

'Neon is a big investment for us. The underlying technology has been completely refreshed and the visuals have been markedly enhanced,' said Roche.

Analysts are also upbeat on the Neon roll-out. Brokers Panmure Gordon said Neon would provide a timely boost to licence sales and strengthen Coda's sales pipeline.

Further reading:

Read Coda's full interim results

Find out more about Neon