Software firm Proactis reports strong first half results

'‹S'‹oftware firm Proactis '‹reported strong first half results and said it has signed 27 new name deals'‹ and '‹increased volumes from existing customers'‹ with'‹ 59 deals '‹over the half year.

The Wetherby-based firm said revenues rose 35.6 per cent to £11.8m in the six months to January 31.

Adjusted EBITDA increased 25 per cent to £3m up from £2.4m the previous year.

Tim Sykes, chief executive officer designate, said: ”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.

“We have continued to execute on our M&A strategy in the period with the acquisition of Millstream, a business that complements the four acquisitions made since 2014. We are committed to further M&A activity and have established a robust platform for further acquisitions.”

He added: “We look forward to the coming period and are confident in our ability to drive further growth and continue to deliver against our ambitious strategy.”