CODA Coda

RNS Number:4915P
CODA plc
15 January 2007


Chippenham, UK -  15 January 2007

                                    CODA plc

                            Year End Trading Update

CODA plc, the finance systems specialist quoted on the Alternative Investment
Market (AIM; stock code: CODA), is today providing its first year end update
since its introduction to the AIM market in September 2006 following the
demerger from CODASciSys plc.

CODA plc is pleased to report that earnings (before interest, tax and goodwill
amortisation), our usual measurement of performance, for the period ended 31
December 2006, are expected to be in line with market expectations. Under
demerger accounting, the consolidated accounts for the period will be presented
as though the new CODA plc has always existed, including comparatives for the
previous period.

Since the demerger, CODA plc has continued to perform well and has secured a
number of contracts with both new and existing clients.  Cash flows have also
been positive with a cash balance of approximately #1.75m as at the balance
sheet date.

In October we announced our largest ever licence contract to provide
CODA-Financials to a leading North American manufacturer of construction
equipment.  This has already resulted in additional service revenues for the
CODA business from the advanced planning for the roll-out of this project.

Sales across the product range and all territories remain healthy. Recent
successes include sales of our consolidation offering, OCRA, to existing CODA
customers and also to new clients, including Olaer Group (market leader in the
design and provision of coolers and hydropneumatic accumulators) who selected
the solution to improve its Group-wide reporting requirements.

New contracts for CODA-Financials include the systems integrator, ATOS Origin
(as prime contractor for The Rail Settlement Plan), NFT Distribution, Standard
Life Investments and the Youth Hostel Association of the Rhineland-Palatinate
and the Saarland, Germany.  CODA also signed a partnership agreement with RM plc
to integrate CODA-Financials as the financial element of its new generation of
enterprise school management systems for primary and secondary schools.

During 2007 we shall make an increased investment in two key areas.  Firstly we
shall bring to market a major new release of CODA-Financials and related
transactional products.  This release will ensure that the CODA product range
continues to reflect the very latest technical advances.  At the same time it
will deliver significant new functional enhancements, such as an advanced
procurement suite, which we expect to attract new revenue sources.

Secondly, we shall expand our sales and marketing capability, as we seek to take
advantage of an increasing demand for our products in a number of territories
including UK, Germany, Benelux, Nordic and Asia Pacific.

The Business Collaborator division continued to perform strongly during the
period. Its online collaboration software is being used in a wide variety of
infrastructure projects, including a programme to improve the Docklands Light
Railway as part of Transport for London's #10 billion Investment Programme; and
a #750 million programme of improvement works being conducted on behalf of
Southern Water by 4D, a joint venture between United Utilities, Costain and MWH.

Since the year end we have agreed terms (subject to contract) for the sale of
the freehold on the property at Methuen Park in Chippenham.  The net sale
proceeds are expected to be approximately #8.4m.  The rental currently enjoyed
by CODA on this property is approximately #0.4m per annum.

In conclusion, current trading is highly satisfactory across the business and
the Directors remain confident of a positive outcome for 2007.

The Preliminary Results for the period ended 31 December 2006 will be announced
on Thursday 15 March 2007.

FOR FURTHER INFORMATION PLEASE CONTACT:

Graham Steinsberg, Executive Chairman                  01249 467 302

Archie Berens, Pelham                                  020 7743 6679

ABOUT CODA

CODA creates, markets and implements a complete range of software systems
designed specifically to meet the needs of Financial Directors and Finance
Departments. These include financial management systems, analysis applications,
and business process management and control software to implement compliance
solutions. Its service oriented architecture also makes CODA software easy for
clients and other vendors to integrate with their business applications.

CODA was founded in 1979, has around 550 employees working from 13 global
locations, and is listed on AIM in London under the ticker "CODA". CODA software
is designed for multi-currency, multi-language, multi-country, multi-company and
multi-site operations, and is used by around 2,600 medium and large
organizations in over 100 countries in a variety of markets and within both
public and commercial sectors.

                      This information is provided by RNS
            The company news service from the London Stock Exchange
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