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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 shares jump on India joint venture news

Proactis, the AIM-listed software and services provider, has launched a joint venture operation to provide its solutions to the Indian market. In an update issued on Wednesday, the group reported that outsourced procurement services would be provided on the group's software platform. The joint ven

4 Aug 2011 12:31

Cloud transition rains on Proactis's parade

Shares in software firm Proactis Holdings plunged after it said performance had disappointed and revenues would be behind expectations. Thursday's trading update showed that in the first year since it moved to a cloud-based subscription model, Proactis had signed 14 new deals out of a total of 30 n

5 Apr 2011 12:59

SaaS model changes Proactis's revenue profile

Cloud computing - remote access to applications and data - is the coming thing in the business world but the move to a pay-as-you-go model is causing short-term sales declines for software providers such as procurement solutions specialist Proactis Holdings. The company announced a 13% fall in its

28 Jun 2010 08:00

PRESS RELEASE: PROACTIS & UNIT4 Deliver End-to-End Process Management

LONDON--(BUSINESS WIRE)--June 28, 2010-- PROACTIS (AIM:PHD), the spend control and eProcurement specialist, and UNIT4 Business Software, the UK division of UNIT4, the world's leading provider of ERP for fast changing organisations, have today announced a strategic partnership agreement to provid

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