Cobent Uses Strong Results to Rebut Rumors

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Cobent &mdash; the “compliance” software vendor, specializing in the manufacturing and life sciences sectors &mdash; has categorically denied persistent rumors that the company will &ldquo;float&rdquo; on the stock market following the January publication of its results for 2007.<br /><br />In 2007, Cobent &mdash; a leading solutions provider for e-learning, training and compliance-led process management across the entire range of international blue-chip companies, fast-growth start-ups and public sector organizations on both sides of the Atlantic &mdash; saw its revenue increase by 50 percent over the 2006 total. In addition, recurring revenues rose substantially and profit margins increased significantly on an annual turnover in excess of £1m.<br /><br />Howard Sears, CEO of Cobent Group, commented: &ldquo;It&rsquo;s true that Cobent&rsquo;s results show a significant increase in performance and profits &mdash; certainly more than 50 percent up on the previous year&rsquo;s figures. <br /><br />&ldquo;This has occurred mainly because of increased interest by clients in delivering business services such as learning in a regulated and audited environment. This, in turn, has been fuelled by the growing maturity of Web-based technology and the desire to deliver against business-critical learning needs in a way that can be shown to improve employees&rsquo; efficiency, profitability and bottom-line performance while supporting corporate governance and compliance requirements.&rdquo;<br /><br />During the past 12 months, Cobent&rsquo;s products have been in use in life sciences organizations including Centric Health Resources, a leading U.S. specialty pharmacy provider to individuals with rare, long-term disorders, as well as Europe&#39;s leading specialist electrical retailing group, Dixons Group International (DSGi), and Renaissance Capital, the leading independent investment banking firm operating in Russia and the Commonwealth of Independent States (CIS).<br /><br />Tony Dillon, Cobent&rsquo;s CTO, explained: &ldquo;Cobent&rsquo;s growth has come because we are at the forefront of software design and development. Our understanding of compliant industries enables  us to build any compliance-related application with a minimum of fuss and maximum flexibility. This not only offers our customers sizeable cost advantages but also provides our customers with a solid platform to grow their learning and compliance strategy.&rdquo;<br /><br />&ldquo;Increasingly, Cobent is becoming a global player in the compliance software market,&rdquo; Sears added. &ldquo;However, while it is undeniable that Cobent&rsquo;s performance is proving attractive to those wanting to improve their position in this market, the company has absolutely no plans whatsoever at this time to become a public company and &lsquo;float&rsquo; on the stock exchange.&rdquo;<br />

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