CODA posts solid results
Accounting software provider CODA has released strong year-end figures.
Revenue grew to £44.2m for year-end 31 December 2003, from £40.3m in the previous year. Profit grew 18.3% to £7.1m from £6m.
The figures include sales for the first trading year of software product CODA Dream – following the acquisition of SquareSum at the start of 2003.
CODA chief executive Jeremy Roche said: ‘We are all very pleased with our results, which reflects CODA’s strong performance in the market. CODA signed the highest number of new customers ever despite the difficult trading conditions for IT vendors in 2003. We increased license and consultancy revenue when many of our competitors were shrinking.’