PROACTIS Holdings PLC Trading Update (0646F)
February 17 2015 - 2:00AM
UK Regulatory
TIDMPHD
RNS Number : 0646F
PROACTIS Holdings PLC
17 February 2015
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 GBP8.4m (2014:
GBP4.0m) and a significant increase in profitability with
adjusted(1) EBITDA of approximately GBP2.2m (2014: GBP0.8m).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 Via RedleafPolhill
Tim Sykes, Chief Financial Office
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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