Cedardata Plc, the accounting and financial software supplier, reported strong results at the end of its first full year since floating on the London Stock Exchange at 105 pence per share in March 1994. The New Malden, Surrey-based Oracle Corp value-added reseller saw pre-tax profits up 32% at ú3.6m for the year ended March 31, on turnover that rose 46% to ú8.9m. This was above the company’s forecast at flotation ( CI No 2,365), but the shares only stand at 115 pence. The company reported that revenue growth was achieved across all its major business sectors: commercial, government and health care. Cedardata has added a graphical user interface to its financial acounting package, CFACS, and reported increased sales in related products such as Oracle development licences, computer hardware, bank payment integration software and database tools. While these products attract lower profit margins, the company says that they represent a valuable contribution to overall profit. Managing director Leon Fattal said that substantial orders have been received since the year-end, and the company reports sales prospects ahead of last year. Cedardata has also signed a contract with the UK Foreign & Commonwealth Office worth more than ú1m, to supply software and services, and says it will continue to extend the use of graphical user interfaces. The company has been granted planning permission to extend its building, and future plans include seeking minimum risk opportunities for expansion into overseas markets. The board is recommending a final dividend of 2.2 pence, which makes a total for the maiden year of 3.25 pence.
