07:01 Wed 24 Feb 2021
PROACTIS Holdings - Trading Update & Notice of Results
Proactis Holdings PLC
Trading Update & Notice of Results
Proactis Holdings PLC ("Proactis", the "Group" or the "Company"), the global spend management solution provider, today provides an update on trading ("Trading Update") for the six-month period ended
Trading Update
The Group's progression over the period has been strategically significant with encouraging commercial traction and growing pipelines in each of its operations in
The Board believes that delivering these milestones validates the Group's strategy and provides confidence of sustainable momentum and progression in the second half of the year and beyond.
New business deal intake for the period was strong with total contract value ("TCV") of
Customer churn for the six-month period of
The Board expects to report revenues for the six-month period of
Net bank debt as at
Outlook
The Group expects to be able to report performance in line with Board's expectations for the period. Whilst the Board is conscious of the ongoing impact that COVID-19 is having across the business, its confidence in the Group's prospects for the mid-term has been strengthened further through the strategic milestones that have been achieved during the period. The Board looks forward to continued progression.
Notice of Results
The Group currently intends to release its interim results for the six-month period ending
"I am encouraged by the progress the Group has made during the period as our strategy becomes embedded within our teams across the Group. We have met every milestone that we needed to in order to validate our strategy for mid-market business spend management solutions and for bePayd and we can now push forward with confidence to pursue the market opportunity we have."
* Adjusted EBITDA is calculated by adjusting profit before taxation to exclude the impact of net finance costs, depreciation, amortisation, share based payment charges and non-core net expenditure.
Financial expectations noted above are unaudited.
The information contained within this announcement is deemed to constitute inside information for the purposes of article 7 of the market abuse regulation (EU) no. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
Proactis Holdings PLC |
01937 545070 x1115 |
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finnCap Ltd
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0207 220 0500
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Alma PR |
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020 3405 0205 |
Notes to Editors:
Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure. Its solutions are used in approximately 1,100 buying organisations around the world from the commercial, public and not-for-profit sectors.
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