22 May 2020 07:00
22 May 2020
Proactis Holdings PLC
Performance Update
Proactis Holdings PLC ("Proactis", the "Group" or the "Company"), the business spend management solution provider, is pleased to announce that the Group has signed new contracts with a total contract value of £11.3m cumulatively in the year to date, which equals the equivalent performance for the whole of the prior financial year.
This improved new business performance has been driven by the Group's refreshed go-to-market strategy and, in tandem with improved retention performance, annual recurring revenue from the Group's buyer subscription business has returned to organic growth for the year to date.
The Group continues to carefully monitor the developments with respect to the COVID-19 outbreak and is not immune from its impact, particularly with regard to its supplier-paid business and its implementation services. However, at this stage, the Group's business model as a whole is proving resilient.
For further information, please contact:
Proactis Holdings PLC | 01937 545070 |
Tim Sykes, Chief Executive Officer
| investorcontact@proactis.com |
finnCap Ltd Stuart Andrews/Carl Holmes/Matthew Radley - Corporate Finance Andrew Burdis/Richard Chambers - ECM | 0207 220 0500
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Alma PR Rebecca Sanders-Hewett, Sam Modlin, David Ison | 020 3405 0205 Proactis@almapr.co.uk |
Notes to Editors:
Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure. Its solutions are used in over 1,000 buying organisations internationally from the commercial, public and not-for-profit sectors.