Updates

Coda SciSys - Shares break higher

February 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Ahead of results on 16 March, Coda SciSys has issued a trading update. Pretax profit for the yeat to 2005 calendar year will be slightly ahead of expectations; before the news, Teather & Greenwood was forecasting £9.6m (eps 28.6p). The Coda division is enjoying strong underlying demand for new licences and better utilisation of its services side. Sales were evenly spread by territory, with the UK, Holland and the US being particularly strong. The recently acquired consolidation system, OCRA, and the SOCETTM compliance product have brightened prospects. Despite making the acquisitions for £4.5m, net cash rose from £7.5m to £10.1m at the year end. The other side of the business, Scisys, has seen a ...

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