Agresso reports drop in licences
IT company sees rise in operating profits but licence up-take down
Unit 4 Agresso, the accountancy software company, announced in its first
quarter results that its licences in the UK are in decline.
The parent company of public sector accountancy technology company, Coda, has
said in company announcement licences ‘saw a strong decline in the first quarter
of 2009 especially in the private sectors in the United Kingdom.’
The IT company said that Spain’s private sector was also showing signs of
licences declining, and that it was hoping to reorganise its business in both
countries.
However, Agresso did report that despite spending 2.7m Euros in
reorganisation costs – operating profits were up 19% to 10.2m Euros, total
revenue increased 7% to 91m Euros and that pro forma revenue decreased by 2%.
Further reading:
Agresso snatches more than 60 clients from SAP