PROACTIS, a global Spend Control and eProcurement provider, today announced its interim results for the six month period ended 31 January 2017
- Reported revenue increased 35.6% to £11.8m (31 January 2016: £8.7m)
- Underlying revenue growth (excluding the benefit of acquisitions) was 13.4% (31 January 2016: 3.6%)
- Annualised contracted revenue increased to £22.9m (31 July 2016: £17.6m)
- Deal activity buoyant: 27 new name deals (31 January 2016: 23)
- Increased volumes from existing customers: 59 deals in the period (31 January 2016: 45)
- Acquired Millstream Associates Limited
Tim Sykes, Chief Executive Officer Designate, commented:
"The Group has once again illustrated its ability to drive growth, both organically and by acquisition. The core business has delivered significant growth and this has been bolstered by the contributions from recent acquisitions, which are performing in line with expectations.
"Alongside the significant levels of new names signed during the period, the Group's customer retention and increased deal flow from existing customers demonstrates the strength of the Group's proposition and ability to successfully address the growing Spend and Procurement marketplace."
For further details, see the full PROACTIS Interim Results for the Six Months Ended 31 January 2017