PROACTIS Strong Full-Year Results Boosted by 35 New Deals

PROACTIS, a leading Spend Control and eProcurement solution provider, today announced its preliminary results for the year to 31 July 2013.
PROACTIS posted revenues of GBP 8 million, up from GBP 7.5 million. Revenues were boosted by 35 new deals, up from 28 in 2012, including 17 subscription deals that it said will result in revenue being recognised in future periods.

Operational highlights:
  • Total Initial Contract Value signed of £2.8m on 35 new deals (2012: £3.5m on 28 new deals) with £1.4m (2012: £1.7m) recognised in the year
  • 100% positive record on early renewals of subscription deals
  • Indian joint venture with the Mittal family network established and progressing well
  • BPO agreement with TATA TCS in place for use of the PROACTIS' software platform for managed services provision worldwide: first deal secured
  • Independently rated by CapGemini as 'most compelling offering' after SAP and Ariba
Financial highlights:
  • Record reported revenue increased by 7% to £8.0m (2012: £7.5m)
  • Adjusted operating profit increased 117% to £0.6m (2012: £0.3m)
  • Statutory operating profit increased to £0.3m (2012: £0.1m)
  • Cash at 31 July 2013 £2.3m (2012: £2.7m) and the Group is debt free
  • Earnings per share 1.1p (2012: 0.5p)
  • Proposed final dividend of 1.00p per share (2012: 0.75p)
Revenue visibility:
  • Total contracted but not recognised multi-year revenue increased 22% to £6.2m (2012: £5.1m)
  • Annualised visible revenue increased to £5.4m (68% of reported revenue) (2012: £5.1m; 68%)
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