After the February 2008 takeover of Coda plc by by Unit 4 Agresso NV (post), it was announced that Coda would no longer be announcing its 2007 annual results last month, and I expected a delay until we could see how UK construction collaboration technology subsidiary Business Collaborator had fared in 2007. However, presumably still working to the old timetable, BC has just lodged its 2007 results with Companies House, and it looks like the company had a good year.
Turnover was up 19.6% from £2.35m in 2006 to £2.81m (pretty much in line with previous years’ growth), while the company achieved a pre-tax profit of £162,557, up 16.8% from £139,226 in 2006. Staff numbers grew from 24 to 30. On ‘Future outlook’, the directors’ report says: “… the company is well placed to deliver sustainable growth in line with its strategy. Levels of activity since the year end continue to be high.”
I will compare these figures with those of some of BC’s key UK competitors soon; Asite should announce their 2007 figures shortly, so it will be interesting to see if their growth is in line with that achieved by BC or even the whopping pre-MBO 40% achieved by 4Projects last year (incidentally, there’s a video about the MBO on August Equity’s website).
Since the year end (on 31 March 2008), two of the three BC directors – Graham Steinsberg and Bryan Hucker – plus company secretary David Belmont have resigned (following the change of Coda’s ownership; Belmont has taken on a similar role at Turner & Townsend, according to Building this week), leaving MD Sanjeev Shah currently as sole director, with Ms Angela Louise Marlow as new company secretary.