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Aggregator business pushes CDL growth.
Independent software house CDL has reported consolidated turnover of £14.6m for the year ending 30th September 2006, up 15% from £12.7m in 2005. In the same period, its profit before tax grew 12.4% to £2.9m.
The software house saw a surge in its internet business following its launch of an aggregator module designed to support the vast volumes of internet traffic routed by price comparison sites.
The module is in use by leading aggregators including Compare the Market, Go Compare, Moneysupermarket and U Switch.
2006 also saw the first sites go live with CDL's flagship Strata system - deployed in both personal and commercial lines environments.
Commenting upon the results, CDL general manager, Rick Slater, said: "CDL has always recognised its responsibility to maintain a stable and financially strong performance, which is of course critical to the long -term sustainability of the systems that underpin our clients’ businesses."
"Our commitment to the future can be seen in the heavy investment made in 2006 in the purchase of our prestigious new headquarters and in the continued development of the Strata system."
"2007 will be another busy year for CDL and will see it maintain its investment in research and development, and in robust infrastructure systems."
Earlier this year, CDL announced a contract to supply its Strata broking application to RBS Business Insurance Services (RBSBIS), implementing the system to an initial 200 users.
Insurance Age - 8th May 2007