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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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Proactis Wins Framework Deal For UK Government's GCloud Initiative

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29 Apr 2014 14:38

Proactis Non-Executive Director, Chairman Subscribe To Shares

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29 Apr 2014 11:51

Proactis Buys US E-Auction Software Company Intesource

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18 Mar 2014 11:57

Proactis Raises GBP2.2 Million As It Evaluates Acquisitions

LONDON (Alliance News) - Proactis Holdings PLC Tuesday said it has raised GBP2.2 million before expenses by issuing 4.4 million shares in order to support further acquisitions and to give it working capital. Proactis said it is evaluating a number of target acquisitions but no terms have be

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3 Mar 2014 15:23

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LONDON (Alliance News) - Proactis Holdings PLC Monday said its pretax profit multiplied in the half-year ended January 31, 2013, as revenue was boosted by new customer deals and administrative costs declined. Proactis posted a pretax profit of GBP321,000, up from GBP16,000 in the previous y

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3 Mar 2014 10:48

Proactis Pretax Profit Multiplies In Half Year

LONDON (Alliance News) - Proactis Holdings PLC Monday said it pretax profit multiply in the half year ended January 31, 2013, as revenue was boosted by new customer deals and administrative costs declined. Proactis posted a pretax profit of GBP321,000, up from GBP16,000 in the previous year

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