LONDON (Alliance News) - Business software and support services company Proactis Holdings Wednesday said its results for the six months ended January 31 are expected to be in line with current market expectations, with a significant increase in profitability.
The spending control software firm said revenue during the period rose to over GBP4.0 million.
Deal volumes and initial contract values were also strong, Proactis said, while the pipeline for new deals is very "encouraging".
The company had reported a 7% rise in revenues to GBP3.9 million in the first half of its last financial year, and revenues were also up 7% for the year as a whole, meaning revenue growth has slowed in the first half of the current year.
Earlier this month, the firm completed the acquisition of e-invoicing company EGS Group Ltd for an undisclosed fee. Proactis said the integration is progressing well and the first elements of the synergy benefits have been realised, in line with its integration plan.
"We are committed to driving organic growth across the enlarged group and have a strong pipeline and order book supporting forward revenues," Chief Executive Rod Jones said in a statement.
"We are confident that this and our operational excellence will continue to underpin future growth and deliver value for shareholders," he added.
The stock was trading at 53.68 pence Wednesday morning, down 0.32 pence or 0.6%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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