27th Apr 2016 10:43
LONDON (Alliance News) - Spend control and e-procurement services company PROACTIS Holdings PLC on Wednesday said revenue and pretax profit grew in the first half of its financial year amid solid trading.
PROACTIS said pretax profit for the half-year to the end of January rose to GBP1.0 million from GBP900,000 a year earlier, driven by revenue growing to GBP8.7 million from GBP8.4 million.
The company signed 23 new name deals in the half, up from 20 a year earlier, with a total contract value of GBP3.7 million, up from GBP2.6 million the prior year.
PROACTIS said its revenue has shifted towards multi-year software-as-a-service customers and it has increased upselling and cross-selling activity, along with further investments in its supplier network and payment facility operations.
"I have many reasons to be confident in the growth opportunities that the group has available to it, and I am confident that the group will deliver against its ambitious plans," said Chief Executive Rod Jones.
Shares in PROACTIS were down 7.6% to 128.0 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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