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Proactis sees impressive revenue and EBITDA growth on back of Perfect acquisition
Spend control solutions firm Proactis reported on Monday that it was trading in line to meet management expectations for the full year thanks to a significant growth in revenue and EBITDA over the six months leading to 31 January as a result of its acquisition of Perfect Commerce.
Proactis, which expects to report its interim results on 24 April, expects to see revenue jump around 123% to £26.3m, moving EBITDA ahead 183% to £8.5m.
The acquisition of Perfect Commerce which, having traded in line with expectations since the completion of the acquisition on 4 August 2017, boosted the group further, contributing roughly £13.5m of revenue and £3.7m in adjusted EBITDA.
Hamp Wall, chief executive, said, "The completion of the acquisition of Perfect at the beginning of the period under review was transformational for the Group and created a significant global player. Our strong trading performance during the period, which includes encouraging traction in terms of new business across the entire Group, endorses the transaction and highlights the significant growth potential."
"We are extremely excited about the next six months and beyond. Not only are we confident in our continued ability to execute the integration effectively, but I believe there is a substantial value creation opportunity for the Group generally but, more specifically, within the supplier community of our customer base through both networking and our accelerated payment facility," Wall added.
As of 1420 GMT, shares had gained 8.82% to 185.00p.