13 Aug 2010 07:00
PROACTIS Holdings PLC
("PROACTIS" or "the Company" or "the Group")
Trading update
The Board of PROACTIS, the specialist Spend Control software provider, issues a trading update for the year ended 31 July 2010 in advance of its Preliminary Results during October 2010.
PROACTIS anticipates that it will announce profits that are in line with market expectations.
Strong performances in consultancy services and the recurring support and maintenance will enable the Group to report revenue growth. New licence deals were slower to convert than expected but remain live opportunities. Licence upgrade deals from existing clients showed strong growth.
Quality of earnings is very strong with net cash at 31 July being approximately £3.5m (2009: £2.4m) following the dividend payment of approximately £0.3m during January 2010.
Outlook
The outlook for the current financial year is good. The Group's pipeline is stronger than at any time in its history and increased investment in the product set positions the Group well for continued growth for the foreseeable future.
Enquiries:
PROACTIS Holdings PLC
Rod Jones, Chief Executive Officer
Tim Sykes, Chief Financial Officer
+44 (0)1937 545070
Daniel Stewart & Company plc
Paul Shackleton
Emma Earl
+44 (0)20 7776 6550