Proactis up as revenues double

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Proactis up as revenues double
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AIM-listed e-commerce software provider Proactis (LON:PHD) earned revenues of £52.2 million for the year ended 31st July, 102% higher than during the prior year, following the integration of Perfect Commerce. Annualised recurring revenues also doubled to £45.1 million.

The board proposed that the dividend be increased to 1.5p as adjusted earnings per share rose by 18% to 10.6p. Chief executive officer Hamp Wall commented: “I remain encouraged by the progress the Group has made during the year and the results of the substantial effort of our team. This has been the first full year of ownership of Perfect which has dramatically changed the Group’s profile and has accelerated its strategy.

“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.

Shares in Proactis rose by 2.86% to 136.30p (as of 13:05 GMT).


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