Proactis pre-tax profits rise to more than £1m

The Wetherby-based firm's technology is used by organisations to streamline procurement and reduce budget over-spend, "making sure the right contracts are in place with the right suppliers"

In the year ended July 31, Proactis saw revenue grow by 5.4 per cent to 7.4m while pre-tax profits increased from 950,000 to 1.08m.

Underlying operating profit grew by 18.3 per cent to 1.3m and reported operating profit increased by 15.6 per cent to 1.1m.

Proactis, which also has a US operation, won 38 new clients over the year and achieved upgrade deals with 85 existing clients.

The group, which is debt free, had 3.5m of cash at July 31 and is proposing to pay a dividend of 1.1p per share.

Chief executive Rod Jones said: "Proactis performed well from many perspectives: achieving solid revenue growth of 5.4 per cent with underlying profitability of 1.3m.

"Our balance sheet is strong, with excellent cash conversion again and our product remains highly competitive. Our pipeline has grown significantly this year and is currently very strong.

"We believe that this platform positions Proactis very well for the forthcoming year and that we will see continued growth in our business."