2nd Oct 2013 07:30
LONDON (Alliance News) - Proactis Holdings PLC Wednesday raised its final dividend as increases in subscription deals boosted revenues and profits in the full-year ended July 31.
The business software and support services company raised its final dividend of 1.00 pence from 0.75 pence in the previous year.
Proactis posted revenues of GBP8.0 million, up from GBP7.5 million. Revenues were boosted by 35 new deals, up from 28 in 2012, including 17 subscription deals that it said will result in revenue being recognised in future periods.
The company said pretax profit rose to GBP304,000, from GBP94,000 in the previous year. It said that it had made substantial cost reductions during the year that will begin to take effect starting in the new financial year, and anticipates the run rate of profitability will be higher as result.
Proactis said it had seen an improved gross margin of 69.7%, up from 68.5% in the previous year, due to its consultancy services being delivered mostly from in-house resources and the profitability of its hosting services improving after cost reductions.
Shares in Proactis were trading up 1.2% at 25.80 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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