LONDON (Alliance News) - Proactis Holdings PLC said Tuesday that its first-half profit and revenue will be significantly higher than last year and in line with its growth expectations.
In a trading update, the software provider said it has significantly increase its profitability, with adjusted earnings for the six months to end-January of around GBP2.2 million, compared with only GBP0.8 million in the first-half of last year. That figure excludes interest, taxes, depreciation, amortisation, as well as non-recurring administrative expenses and share based payment charges.
The group said revenue will be around GBP8.4 million, double the GBP4.0 million in revenue it reported last year, as it signed a total of 24 new deals during the period.
Proactis said initial contract values, its order book and pipeline for new deals, all remain "very encouraging".
"The group's growth rate and scale have been transformed through the positive impact of the three acquisitions completed during 2014 and profitability has substantially increased. Trading is strong, new deal count has increased and M&A [merger and acquisition] activity is delivering incremental rates of growth," said Chief Executive Rod Jones in the statement.
Proactis shares were trading 3.3% higher Tuesday morning at 90.90 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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