COA results propped up by internet offering

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.

Further reading:

Software goes online

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