PROACTIS Holdings PLC Trading Update (3822A)

TIDMPHD

RNS Number : 3822A

PROACTIS Holdings PLC

19 February 2014

 
 Date:              19 February 2014 
 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 2014.

The Group confirms that results are expected to be in line with current market expectations, with H1 revenues of over GBP4.0m and a significant increase in profitability. Deal volumes and initial contract values were strong and the pipeline for new deals is very encouraging.

As announced on 10 February 2014, the Group completed the acquisition of EGS Group Limited ("EGS") and its integration into the Group is progressing well. The first elements of the synergistic benefits have been realised in line with the integration plan. The Board is confident of further integration benefits being realised over the coming months.

Rod Jones, Chief Executive commented:

"The core business has performed very well with a marked increase in profitability, due to solid revenue growth with healthy deal volumes and deal value in addition to tightly controlled overheads. This performance underlines the effectiveness of our strategic shift to a blended subscription and perpetual business model.

"I am pleased to report that both EGS' and our own pipeline remain very strong and this illustrates the commercial market's positive reaction to the enlarged Group.

"We are committed to driving organic growth across the enlarged Group and have a strong pipeline and order book supporting forward revenues. We are confident that this and our operational excellence will continue to underpin future growth and deliver value for shareholders."

End

For further information, please contact:

 
 PROACTIS Holdings PLC 
 Rod Jones, Chief Executive Officer    Via Redleaf Polhill 
  Tim Sykes, Chief Financial Office 
 Redleaf Polhill 
 Rebecca Sanders-Hewett 
  Jenny Bahr                           0207 382 4730 
 
 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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