PROACTIS Holdings PLC Trading Update (2373V)
August 06 2015 - 2:00AM
UK Regulatory
TIDMPHD
RNS Number : 2373V
PROACTIS Holdings PLC
06 August 2015
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
GBP17.2m (2014: GBP10.2m) and adjusted(1) EBITDA increasing by
c.130% to approximately GBP4.6m (2014: GBP2.0m). 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 Via Redleaf Communications
Officer
Tim Sykes, Chief Financial
Officer
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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