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April 2007

Business Collaborator - continued strong performance

We are delighted that the strong performance in 2005 has continued again in 2006 with revenues increased by 22.2% to £2.35m and operating profit improved to £139k from £4k.

BCL continued strengthening its sales, support and development teams throughout 2006, enabling the business to retain its high levels of customer service; a successful strategy as recently demonstrated by enterprise client Halcrow's decision to renew its Support and Maintenance agreement in a deal worth £0.4m over 3 years.

Our core Architectural, Engineering and Construction (AEC) market saw client successes in several areas, in particular Business Support Services, Contractors, Utilities and Developers. New clients for the year included Docklands Light Railway, Keolis UK, Musgrave Group, RWE DEA UK and Waste Recycling Group.

Sanjeev Shah, BCL Managing Director said of 2006 results:

“We are delighted with our continued growth in revenues and profits. We believe our focus on Customer Satisfaction, which has resulted in customer loyalty and referrals, to be a major contributor to our success. ”

Further growth and investment in Sedex have also contributed to BCL's success throughout 2006 and promises strong revenue for 2007. By December 2006 membership had reached over 10,000 suppliers and was growing at a rate of 500 new suppliers every month. A number of major retailers also joined, including House of Fraser, Debenhams and Fat Face.

Business Collaborator Ltd is part of the CODA plc Group. The CODA business underwent a major transformation during the year, having demerged from SciSys plc (formerly CODASciSys plc) and being admitted to AIM on 26 September 2006.

The demerger took place with the minimal disruption to the businesses and we’re pleased to report that CODA plc Group increased turnover by 5.7% to £53.5m from £50.6m in 2005.

Click here to download the CODA plc Group Annual Report 2006 or here for the full Preliminary Statement 2006 issued by our parent company CODA plc.