Proactis doubles full-year revenues, swings to a profit

(Sharecast News) - Proactis swung to a profit in its last trading year after the AIM-listed outfit successfully doubled revenues throughout the period.Proactis, which provides sales and procurement management software tools to companies, saw pre-tax profits come in at £3.7m for the year ended 31 July, swinging from the £2.7m loss reported twelve months earlier.Revenues rocketed 105% to £52.2m, driven by a £16m contribution from its operations on the continent.Proactis, which acquired Perfect Commerce as part of a $123.5m reverse takeover in July 2017, also turned in an improved performance in the US as a result of its increased presence in the market.EBITDA soared 119% to £17.3m.Proactis raised its final dividend to 1.5 pence per share from the 1.4p returned to investors a year earlier.Statutory earnings per share came in at 5.4p - a marked turnaround from the loss of 5.9p per share seen in 2017.Looking forward, Proactis plans to accelerate organic growth in the US and mainland Europe.Chief executive Hamp Wall, said: "The group's new business performance is as strong as we had planned for and our retention performance has recovered to more normalised levels after a disappointing period."The new name and upsell performance was strong in both volume and value and this gives me confidence that we will see a return to sustainable organic growth with a significant opportunity for enhancement in the United States and North West Europe."Debt increased more than 3,000% to £29.3m.As of 1150 BST, Proactis shares had picked up 2.83% to 136.25p.