Proactis records strong rise in annual revenues

Software firm Proactis has recorded a strong rise in annual revenues as it becomes a 'substantial' global player.

Proactis has published its annual results, which will be studied by City analysts. Photo: Stefan Rousseau/PA Wire

The Wetherby-based firm expects to see a return to sustainable organic growth with significant opportunities in the US and North West Europe.

Reported revenue increased by 106 per cent to £52.2m in the 12 months to July 31.

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Hamp wall, Chief Executive Officer, commented: “I remain encouraged by the progress the group has made during the year and the results of the substantial effort of our team. This has been the first full year of ownership of Perfect which has dramatically changed the group’s profile and has accelerated its strategy.

“The group’s new business performance is as strong as we had planned for and our retention performance has recovered to more normalised levels after a disappointing period. The new name and upsell performance was strong in both volume and value and this gives me confidence that we will see a return to sustainable organic growth with a significant opportunity for enhancement in the United States and North West Europe.

“We have added to this opportunity following our acquisition of Esize shortly after the year end. The new group is a substantial global player with excellent potential to exploit its strong geographic reach and its technologies in this growing marketplace. The group has a platform that can deliver sustainable organic growth on the buy side applications and our organisational structure is now set for the group to realise those opportunities.”