PROACTIS, a global Spend Control and eProcurement solution provider, announces its audited preliminary results for the year ended 31 July 2016.
Rod Jones, CEO commented:
- Reported revenue increased by 13% to £19.4m (2015: £17.2m)
- Underlying organic growth of 7%
- Annualised Contracted Revenue has increased by 23% to £17.6m (2015: £14.3m)
- Order Book increased by 32% to £26.1m (2015: £19.7m)
- Adjusted4 EBITDA increased by 10% to £5.3m (2015: £4.8m)
- Statutory operating profit increased 19% to £1.9m (2015: £1.6m)
- Adjusted earnings per share increased by 20% to 7.3p (2015: 6.1p)
- Order intake of £6.9m from 46 new names (2015: £5.2m on 39 new names)
"The results demonstrate the Group's successful execution of its strategy, the result of which is strong growth, both organically and through M&A, underpinned by high levels of forward visibility through recurring contracted income and strong operating margins. Commercial progress has been strong and this is a record year for number of new names and order intake during the year.
"Due North was the Group's fourth acquisition in a two year timeframe and its post-acquisition performance has been encouraging. M&A remains a fundamental part of the Group's growth strategy, with a pipeline of opportunities under review, and I look forward to further activity in this area.
"I am also pleased to report that the Group has met its objectives with its exciting new supplier commerce initiative. We have three early adopter sites; Screwfix, Flintshire County Council and P&O Ferrymasters, and first revenues have been recognised. There remains a high level of interest from our customer base in realising the substantial efficiencies available to them and their suppliers through the supplier commerce capability that the Group has built and I look forward to reporting further progress with the early adopters and new commitments from customers during the coming year.
"The Group is well positioned for the coming year and I look forward to driving further value for our shareholders."
For the full preliminary results, click here