CODA/Agresso group sees UK revenues fall

The CODA and Agresso business saw UK revenues fall by 13% – posting a
group-wide fall in earnings of €379.4m (£333.7m), from €393.6m a year earlier.

The group, UNIT4 improved its cashflow across 2009, to €68.9m from €56.2m.

“A key focus for us last year – in addition to continuing to provide guidance
and assistance to our clients – was cash generation to create as much financial
headroom as possible. We see opportunities again in 2010 for acquisitions,”
said UNIT4 CFO Edwin Van Leeuwen.

“Our principal focus in this area will be on growth markets and synergistic
functionalities. The economic conditions still make it difficult to make
predictions about market demand for 2010.

“We see certain geographies and sectors gradually improving, but we also
remain cautious about government spending. Around 20% of our licence revenue is
currently derived from (local and regional) public authorities.”

The UK added 68 new name customers to its user base across the year.

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