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COA Solutions was the best fit for Everyday Loans as its flexibility means it will be able to grow with the company and support our expansion. We have been impressed with the solution's ease of use, which will be an important factor in ensuring users adopt the system easily. Everyday Loans 
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About Us
PRESS RELEASE
COA Solutions Reports Strong Profitable Growth and Record Level of New Orders
29th August 2008 - UK business applications software provider, COA Solutions Ltd., has today reported strong profitable growth for the year ending March 31, 2008. Turnover has increased by 10.3% to £55.7m with earnings before interest, taxes and depreciation (EBITDA) increasing by 24% to £12.4m. COA Solutions also reports a record level of new orders with an order intake growth of 41%.
Mark Thompson, Managing Director of COA Solutions says, “Once again, we have achieved strong financial results, consolidating COA Solutions’ position as the leader in the UK mid-market segment for financial management, procurement, document management, BI and human capital management systems. In a time of economic uncertainty, COA Solutions is positioned strongly, remaining in the top quartiles of the UK software industry for revenue and EBITDA per head. Moving forward, we are well-positioned to build on this success, and by focusing on understanding our customers’ requirements, we plan to further strengthen COA Solutions’ market leadership.”
Financial year 07/08 highlights include:
- Acquisitions of eProcurement company Belmin (completed March 08) and HR specialist ASR Computers Ltd. (completed April 08), strengthening COA Solutions’ footprint in the healthcare sector and HR offering.
- Order intake growth of 41% and software licence order (margin) growth of 24%.
- New software licence sales accounted for 29% of annual revenues
- Service order growth of 62% year-on-year and service order backlog was up by 83% to £6.4m.
- Recurring revenues (maintenance and support) represented 44% of total revenue, providing COA Solutions with a high quality and predictable revenue stream.
- Billable staff utilisation averaged 73%, a 13 point increase which compares favourably with averages across the UK software industry.
- Revenue per head remains in the top quartile of the UK software industry at £120,000.
- Over 340 new customer wins.
- Days sales outstanding were 71 days and there was a positive cash movement of £8.1m
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