Interim results for the six months ended 31 January 2009
PROACTIS Holdings PLC ("PROACTIS" or the "Company"), the software company that helps businesses cut indirect costs and manage expenditure, today announces its interim results for the six month period to 31 January 2009. The Interim Results are available on the Company's website www.proactis.com.
KEY POINTS
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Operating profit showed strong improvement to £362,000 (2008: loss £438,000)
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Revenues increased by 6.7% year on year to £3.2m (2008: £3.0m)
- Good organic growth in contract wins - 19 new deals
- Strong customer loyalty with 24 upgrade deals from existing customers
- Sales to the commercial markets via our accredited channel partner network remain buoyant
- Visible consultancy and recurring support revenues have increased to £2.1m (2008:£1.9m)
- Direct and in-direct revenues in-line with plan -
Expenses reduced by 24% year on year to £1.9m (2008: £2.5m)
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The market opportunity remains very attractive for our traditional products and ournewer products are building in momentum
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Overseas territories are producing good results with revenues at approximately 22% of total
Rod Jones, Chief Executive Officer, commented:
"Our progress has been excellent in all aspects of our business, our restructuring programme has worked and our profitability has returned to an acceptable level; this is a highly credible result when considering the general economic environment and uncertainties at this time.
We remain watchful of any sign of a softening in our markets and will react accordingly to it but with good visibility on our consultancy and support revenues and a market that should be open to our proposition for new business, we have every reason to be positive about the near term opportunity."
