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17 Feb 2015 07:00
Date: | 17 February 2015 |
On behalf of: | PROACTIS Holdings PLC ("Proactis" the "Company" or "the Group") |
Embargoed until: | 0700hrs |
PROACTIS Holdings PLC
Trading Update
PROACTIS Holdings PLC, a global Spend Control and eProcurement solution provider, is pleased to update the market on trading for the six months ended 31 January 2015.
The Group confirms that results are expected to be in line with expectations, with H1 revenues of approximately £8.4m (2014: £4.0m) and a significant increase in profitability with adjusted1 EBITDA of approximately £2.2m (2014: £0.8m).The Group signed 24 new name deals (2014: 15) and initial contract values, order book and pipeline for new deals remain very encouraging.
The Group's latest acquisition, Intelligent Capture Limited, which was acquired on 1 August 2014, is being successfully integrated into the Group and performing strongly. In addition, the Group continues to progress its strategy for the monetisation of the Group's Global Trading Network through its Activate programme. The technological foundation for Activate was completed during the period and the deployment of the enabling software into live client environments is currently underway. Following this deployment, the Group will move forward to executing the commercial aspects of Activate.
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 Group's continued progress. 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 activity is delivering incremental rates of growth.
"In addition to this organic and M&A based growth, the Group remains committed to its Activate programme, the monetising of the Group's Global Trading Network of buyers and suppliers. Progress is good with the software requirement now largely fulfilled and we look forward to reporting further progress on this in due course."
End
For further information, please contact:
PROACTIS Holdings PLC | |
Rod Jones, Chief Executive Officer Tim Sykes, Chief Financial Office
| Via RedleafPolhill
|
Redleaf Polhill | |
Rebecca Sanders-Hewett Jenny Bahr | 0207 3824730 |
finnCap Limited Charlotte Stranner | 0207 220 0500
|
Stuart Andrews |
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 400 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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