Proactis Holdings, the Wetherby-headquartered spend control and eProcurement solution provider, has delivered significant revenue and EBITDA growth in the period with the few months ended 31 January 2018.
Moreover, trading currently remains in line to fulfill management expectations for that financial year ending 31 July 2018.
The Board expects to report its interim results on 24 April 2018, after which it anticipates reporting a 123% development of revenues to approximately 26.3 million (2017: 11.8m) and also a 183% rise in Adjusted EBITDA to approximately 8.5 million (2017: 3m).
This strong growth have been achieved following your buying of Perfect Commerce which, having traded in step with expectations ever since the completing the buying on 4 August 2017, contributed approximately 13.5 million revenue and 3.7 million of Adjusted EBITDA.
In addition, the Board creates strong progress regarding delivering within the significant cost synergies that it identified before the purchase.
The net annualised valuation of those cost synergies meant to date is 3.3 million and the Board confirms so it remains on target to offer the objective of 5 million by 31 July 2018.
The rate and expense of recent customer wins and cross-selling activity is strong when compared with the earlier year on the like for like basis where there had also been a normal contribution of new customer wins from Perfect.
The Group’s order book and pipeline remain encouraging for the remainder of the age.
CEO Hamp Wall said: “The finishing of purchasing of Perfect at the start of the time period under review was transformational for your Group and made a significant global player.
“Our strong trading performance over the period, consisting of encouraging traction when it comes to start up business through the entire Group, endorses the transaction and highlights the important growth potential.
“In particular, I am delighted with the Group’s progress when it comes to its realisation of cost synergies at this point, which suggests the wonderful progress were making in significantly restructuring the Group’s operations and delivery capability.
“We have become looking forward to the next 6 months and beyond. But not only are we positive about our continued capability execute the combination effectively, nonetheless believe there’s a substantial value creation chance of the viewers generally but, more specifically, inside the supplier community in our clients through both networking and our accelerated payment facility.”