PROACTIS Reports Strong Half Year Results
PROACTIS Holdings PLC, specialist spend control software provider, is today issuing its interim results for the six month period to 31 January 2010.
Key Points
- Operating profit ahead at £384,000 (2009: £362,000)
- Continued strong cash generation from operating activities of £589,000 (2009: £361,000)
- Revenues increased by 10% year on year to £3.47m (2009:
£3.15m)
- Good organic growth - 16 new name deals
- Very strong customer loyalty with 42 upgrade deals from existing customers
- Contracted and recurring support and maintenance revenues strong at £1.62m (2009: £1.34m) - Expenses increased, in line with plan, £2.06m (2009: £1.91m) reflecting our investment in marketing
- The market opportunity remains very attractive for all of our products and territories including overseas which accounted for 15% of revenues
Rod Jones, Chief Executive Officer, commented: "The first half was a period of good progress for PROACTIS. With a healthy spread of business across the commercial, public and not for profit & charities sectors we continue to deliver good results despite the general economic and current political environment.
Spend control will be a key focus for the foreseeable future and our products are well placed to help our clients drive efficiencies into their organisations and enable their cost saving initiatives. We remain confident that we will deliver results for the year in line with market expectations."
