Coins, the construction software group, reports record profit of £1.2m

Coins, the construction software specialist group, made a profit of £1.2m in 2006 as a result of a year of "strong operational performance".

Latest financial figures (12 months to 31 March 2007) show turnover higher at £13m (comparable figure in the previous year: £12) while the profit was well ahead of the £820,000 logged in the previous period.

Larry Sullivan, chairman, said: "Cashflow remained strong, enabling us to self-fund operations, development and acquisitions."

After a total refresh of its software, resulting in the launch of Coins Open Architecture, a browser-based option that runs on Internet Explorer, numerous clients have extended the range of facilities chosen from basic core procurement to extras such as supply chain management, HR and health & safety.

Thirty Coins clients have had the document management (CIM) option installed and more than 60 clients and suppliers have signed up as members of the Coins electronic trading community.

Nigel Cope, business development director, said: "Turnover is rising as we are winning new customers, around 15 to 20 a year, while our existing customer base is maturing, and so after an initial implementation, these people look to add additional functions.

"We are able to be selective as to who we take on – if a company has a smaller turnover it isn’t a problem as long as we find that its people have the right attitude and are keen to take ownership of what they install."

Cope reported that at the top end of the construction industry, amongst the major players, the global ERP software providers are still trying to build up a presence.