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Proactis earnings slip despite revenue growth

Mon, 29th Apr 2019 09:50

(Sharecast News) - Procurement software outfit Proactis saw earnings slip despite reporting improved revenues for the first half of its trading year.Proactis turned in sales of £27.7m for the six months ended 31 January, up 5% year-on-year, but adjusted EBITDA dipped to £8m from the £8.4m recorded twelve months earlier.Total contract values increased 8.9% to £6.1m, while Proactis recorded 34 new business deals in the half - up from the 31 recorded one year ago.Net debt meanwhile increased 31.8% to £39.3m, largely due to its acquisition of Esize Holdings.Chief executive Tim Sykes said: "This set of results is the culmination of a number of the previously reported issues facing the US, French and German parts of the group, however much work has been undertaken and we are pleased to share the outcome of our review of operations with shareholders today."We are focused on executing on our plan and are confident that we have made significant steps in our journey to return the whole of the group to its attractive core characteristics. We have a proven proposition to address a large and growing market, and we are confident that this will drive growth going forward after a period of stabilisation."Elsewhere, Proactis revealed it had appointed former ARRIS director Richard Hughes to the board as chief financial officer, effective 20 May.Discussing the addition of Hughes to the group, Sykes said: "We are confident that his appointment will bring immediate value to our board and the company as a whole and we look forward to working alongside Richard to re-focus the group and drive growth in what continues to be an attractive market."As of 0950 BST, Proactis shares had picked up 1.71% to 29.75p.
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20 Feb 2020 11:48

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22 Jan 2020 16:11

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13 Dec 2019 10:45

Proactis Evaluates Offers Ahead Of Potential Final Due Diligence

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31 Oct 2019 12:55

Proactis Swings To Loss On Impairment Due To Poor US Performance

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2 Oct 2019 11:42

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23 Sep 2019 14:08

Proactis Secures Long-Term Contract From German Firm

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23 Sep 2019 09:00

Proactis inks 'strategically important' contract with German firm

(Sharecast News) - Software and services provider Proactis has inked a long-term contract with German firm DIWIDAG Systems.

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28 Aug 2019 12:26

Proactis Gets Several Approaches; Annual Performance In Line

(Alliance News) - Proactis Holdings PLC on Wednesday said it has performed as expected in financial 2019 and has received several approaches following launch of a formal sale shares in Proactis at

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28 Aug 2019 08:13

Proactis receives multiple expressions of interest following launch of sales process

(Sharecast News) - Spend management firm Proactis Holdings has received several expressions of interest after launching a formal sales process back in July.

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29 Jul 2019 11:17

Proactis Exploring Options After Receiving Acquisition Approaches

(Alliance News) - Spend management solutions provider Proactis Holdings PLC said on Monday it has received a takeover approach from an unnamed US investor, together with a number expressions of by

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12 Jun 2019 18:32

Lombard Odier Doubles Holding In Proactis To 10.5% (ALLISS)

(Alliance News) - Proactis Holdings PLC said Wednesday Swiss wealth manager Lombard Odier Asset Management Ltd doubled its stake in the company.Following the transaction on Tuesday, Lombard

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29 May 2019 09:53

Proactis teams up with GB Group to support payment facility onboarding

(Sharecast News) - Spend management and e-commerce solution provider Proactis Holdings has signed a supply agreement with identity management specialist GB Group to support the delivery of its 'Accelerated Payment Facility' (APF), it announced on Wednesday.

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