Proactis jumps as annual profit and revenue surge on acquisitions

Business software provider Proactis Holdings posted a sharp increase in annual pre-tax profit, on the back of acquisitions it completed last year.

In the year to 31 July, the group said its pre-tax profit jumped from £0.15m to £1.5m, as revenue surged 68.6% year-on-year to £17.2m.

The group attributed the jump in revenue and profit to the performances of the three acquisitions - EGS Group Ltd, Intesource Inc and Intelligent Capture - it completed between February and August last year.

Group chief executive Rod Jones said that the group was planning further expansion, adding mergers and acquisitions will be a “fundamental part” of the company’s strategy next year.

Meanwhile, Proactis confirmed its supplier network technology had been chosen by Screwfix, the largest British retailer of trade tools and hardware products, to improve the efficiency of trading with its suppliers.

"The existing Proactis solution has already delivered tangible savings for Screwfix," said Paul Roy, director of operational finance at Screwfix.

"The Proactis Supplier Network will introduce advancements that we are very excited about including a platform that will deliver efficiency improvements, advanced supplier collaboration and innovative invoicing technologies."

Proactis shares were up 10.07% to 104.02p at 1245 BST on Tuesday.