Proactis Holdings, the Wetherby-headquartered spend control and eProcurement solution provider, has delivered significant revenue and EBITDA growth through the period for your six months time ended 31 January 2018.
Moreover, trading currently remains in line to satisfy management expectations to the financial year ending 31 July 2018.
The Board expects to report its interim results on 24 April 2018, at which point it anticipates reporting a 123% rise in revenues to approximately 26.3 million (2017: 11.8m) plus a 183% increase in Adjusted EBITDA to approximately 8.5 million (2017: 3m).
This strong growth may be achieved pursuing the getting Perfect Commerce which, having traded in accordance with expectations since the realization the buying on 4 August 2017, contributed approximately 13.5 million revenue and 3.7 million of Adjusted EBITDA.
In addition, the Board makes strong progress with regards to delivering to the significant cost synergies not wearing running shoes identified at the time of the acquisition.
The net annualised value of those cost synergies built to date is 3.3 million additionally, the Board confirms which it remains motivated to provide the target of 5 million by 31 July 2018.
The rate and price of brand new customer wins and cross-selling activity continues to be strong as compared to the prior year at a like for like basis where there has also been a healthy contribution of latest customer wins from Perfect.
The Group’s order book and pipeline remain encouraging through out all seasons.
CEO Hamp Wall said: “The completion of the purchasing of Perfect at the outset of the time scale under review was transformational for that Group and developed a significant global player.
“Our strong trading performance within the period, including encouraging traction with regards to start up business throughout the entire Group, endorses the transaction and highlights the running growth potential.
“In particular, We are delighted while using the Group’s progress with regards to its realisation of cost synergies to date, which suggests the superb progress we are making in significantly restructuring the Group’s operations and delivery capability.
“We are incredibly serious about the subsequent 6 months and beyond. But not only shall we be confident in our continued power to execute the integration effectively, on the other hand believe there exists a substantial value creation opportunity for the bunch generally but, more specifically, inside the supplier community of your client base through both networking and our accelerated payment facility.”