Record growth for software firm after it ramps up M&A activity

LISTED spend control software firm Proactis has reported record results as their investment in acquisitions over the year comes to fruition.

The Wetherby-based group’s trio of acquisitions, all of which are in their first full year within the group, contributed £7.7m to the business.

This is a significant increase in deal activity, considering there were only two acquisitions for the year in 2014, which contributed £1.7m to the firm’s results.

In February, Proactis acquired eProcurement solution provider EBS, in June it bought Intersource Inc, to help it crack the US market, and established e-Invoicing services firm Intelligent Capture

Reported revenue increased by 69% to £17.2m, whilst increasing pretax profits from £146,000 in 2014, to £1.52m for the year ended 31 July.

The firm has also announced a deal that has signed up tool and hardware retailer Screwfix for its supplier network.

Rod Jones, chief executive commented: “The Group is achieving record levels of growth, both organically and through its M&A strategy, underpinned by high levels of visibility through recurring contracted income and strong operating margins.

“M&A will remain a fundamental part of the Group’s growth strategy over the coming year and I look forward to further substantial activity in this area.

“Operating in a growing global market with leading solutions, the Group is well positioned for the coming year and we look forward to driving further value for our shareholders.”

 

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