LONDON (Alliance News) - PROACTIS Holdings PLC Tuesday said it expects to report trading for the recent full financial year in line with market expectations, with reported revenue and adjusted earnings before interest, tax, depreciation and amortisation anticipated to rise.
In a trading update for the year ended July 31, PROACTIS said it expects reported revenue to increased to about GBP10.2 million from GBP8.0 million, while it expects adjusted EBITDA to increase to about GBP1.8 million from GBP1.2 million.
PROACTIS creates, sells and maintains specialist software designed to help organisations to streamline, control and monitor all internal and external expenditure, other than payroll.
It said that recurring annualised revenue has increased to about GBP14.0 million from GBP5.4 million. The order book at the end of July stood at GBP14.3 million, compared with GBP6.2 million at the same stage last year.
Chief Executive Rod Jones said that trading across the group has been strong, with contracts signed in the US for its core product. He said that reported revenue and the order book were bolstered by the group's acquisitions, which comprised EGS Group Ltd in February, Intesource Inc in June, and Information on Intelligent Capture Ltd earlier in August.
"This has been a transformational period for the group. It has seen the near completion of our transition to a blended SaaS/perpetual business model, commenced during 2010, and an aggressive start to our M&A strategy. The acquisitions have been additive to either technological or operational expertise but all have added client bases with long term relationships and predictable, if not contracted, revenues," Jones said in a statement.
"In addition, we are particularly excited about our new offering, Activate, and the monetisation of the Global Trading Network and the associated financing opportunity which is an important step in the group's ambitious growth strategy," Jones added.
PROACTIS shares were Tuesday quoted up 10% at 61.65 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
