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6 Aug 2015 07:00
Date: | 6 August 2015 |
On behalf of: | PROACTIS Holdings PLC ("Proactis" the "Company" or "the Group") |
Embargoed until: | 07.00hrs |
PROACTIS Holdings PLC
Trading Update
PROACTIS Holdings PLC, the global Spend Control and eProcurement solution provider, is pleased to update the market on trading for the year ended 31 July 2015.
The Group confirms that results are expected to be in line with expectations, with revenues increasing by c.69% to approximately £17.2m (2014: £10.2m) and adjusted1 EBITDA increasing by c.130% to approximately £4.6m (2014: £2.0m). The Group signed 39 new name deals during the year (2014: 38) and, as with the prior six months, initial contract values, upgrade business, order book and pipeline for further new deals remain very encouraging.
The Group has completed the integration of its three acquisitions; EGS Group Limited, Intesource Inc. and Intelligent Capture Limited and all are performing well in their first full year within the Group. The acquired software and service offerings provide a rich cross-selling opportunity for forthcoming periods. The Group continues to assess further M&A opportunities and has a healthy pipeline.
In addition, the Group is progressing its strategy to provide value added services to its customers' suppliers; notably an electronic trading platform, invoice status visibility and an accelerated payment facility. The development of this technology has all been completed during the year and the Group is working closely with a small group of customers on early adoption programmes.
The Group intends to release its preliminary results on 13 October 2015.
Note 1: Adjusted for non-recurring administrative expenses and share based payment charges.
Rod Jones, Chief Executive commented:
"I am delighted to be able to report the substantial progress over the past six months, both operationally and financially. The Group's scale and growth rate have been transformed during 2015 through both its organic growth and its three acquisitions, with profitability increasing substantially. The levels of new deal intake and renewal rates remaining strong illustrating that our solutions and services remain attractive in the marketplace.
"In addition, the Group remains committed to its programme of delivering value added services to its customers' suppliers and I look forward to being able to report commercial progress on this in the near future."
End
For further information, please contact:
PROACTIS Holdings PLC | |
Rod Jones, Chief Executive Officer Tim Sykes, Chief Financial Officer
| Via Redleaf Communications
|
Redleaf Communications | |
Rebecca Sanders-Hewett Harriet Lynch | 0207 382 4730 |
finnCap Limited Stuart Andrews / Carl Holmes - Corporate Finance | 0207 220 0500
|
Stephen Norcross - Corporate Broking |
Notes to Editors:
PROACTIS creates, sells and maintains specialist software which enables organisations to streamline, control and monitor all internal and external expenditure, other than payroll. It is used in over 500 organisations around the world from the commercial, public and not-for-profit sectors. It is the largest independent eProcurement solution provider to the UK Public Sector.
PROACTIS is head quartered in Wetherby, West Yorkshire. It develops its own software using an in-house team of developers and sells through both direct and indirect channels via a number of Accredited Channel Partners.
PROACTIS floated on the AIM market of the London Stock Exchange in June 2006.
CLOUD COMPUTING is defined as location-independent computing, whereby shared servers provide resources, software, and data to computers and other devices on demand, as with the electricity grid.
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