Member Article

Wetherby’s PROACTIS reports growth after new acquistion

Wetherby’s PROACTIS Holdings plc, a Spend Control and eProcurement solution provider has reported that revenue has increased by 3% to £4.03 million, up fron £3.92m in January 2013.

The firm’s total contracted, deferred multi-year revenue increased by 15% to £7.1 million (July 31 2013: £6.2 million)

The firm reported 15 new deals with 39 upgrading returning customers. Highlights of the period included the acquisition of EGS Group Limited completed on February 7 2014, and EGS has signed 3 new name deals since the acquisition.

Rod Jones, CEO, commented: “It has been a transformational period for the Group, and I am pleased to report a strong set of results with very encouraging levels of profit.

“The Group’s forward order book has reached record levels at £7.1 million and, with a solid increase in reported revenue for the period, this firmly endorses our strategy of moving to a mixed SaaS and perpetual licence model and provides a platform on which to drive further growth.

“Our core UK business is growing well. New deal volumes are positive and sales and marketing activity is high. Complementing that growth, overseas, the Group’s Indian operation has made further progress; two new deals were signed with Mittal network companies in the period, with more in the pipeline.

“We are pleased to confirm the Group’s commitment to M&A as a core element of its growth strategy following the acquisition of EGS, which will impact our numbers positively in the coming months.

“The Group has a number of attractive opportunities available to it and will look to exploit these over the year ahead.

“I am confident that the Group is now at an inflection point and the opportunities for growth are substantial. Further M&A opportunities are being reviewed and I am confident that the Group will continue its organic growth and impressive win rate, and that this, combined with an excellent product and strong pipeline, will continue to drive value for stakeholders.”

This was posted in Bdaily's Members' News section by Clare Burnett .