I would not normally report such things but COA Solutions announcement that it’s first half results are rosy is unusual. COA doesn’t need to announce half year results as it is privately owned. In comparative terms, this places COA on a par with the pre-Agresso acquired CODA which was a public company. According to the blurbs:
Turnover has increased by 16% to £29.6m with earnings before interest, taxes, depreciation and amortisation (EBITDA) increasing by 27% to £5.1m.
Mark Thompson, Managing Director of COA Solutions says, “COA Solutions has sustained excellent progress during the first half of the financial year despite the volatile economic climate. In recent years, our corporate strategy has focused on making the business as resilient as possible to short-term macroeconomic influences by building a loyal customer base that is spread 50:50 (in terms of revenues) across the public and private sectors. Whilst we’ve witnessed tightening demand from sectors such as financial services, professional services and transport, there remains sustained levels of activity within health, education and housing.”
Thompson continues, “During the second half of the financial year, cost control and cash collection will remain high priorities. As less financially solid competitors fall victim to the turbulent economy, we are confident that COA Solutions is well placed to continue growing its share of the UK business applications software market and we will seek additional strategic acquisitions to further strengthen our market position.”
Buyers need confidence and good results provide exactly that. At a time when companies run for extreme safety, it is good to see a vendor offering a solid set of results. Not for this company a retreat in forecasts. COA is fortunate that it has a significant share of public sector. In spite of the recession, government will continue to spend. It has to if government is to meet its commitment to deliver cost effective services.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=64a3dd27-c875-4954-9498-89e2f31d6eba)
