PROACTIS aiming for the black

BUSINESS software company PROACTIS today said it was confident of turning a profit after posting an annual loss.

The company has its European headquarters in Wetherby.

Chief executive Rod Jones said: “PROACTIS has won 30 new deals in difficult market conditions with increased levels of competition. Further, the group is transitioning through a shift in business model that improves visibility over future revenue but reduces revenue in the short term. 

“Accordingly, the group has reported a small loss for the year but the board is confident of a return to profitability and that the group is well placed to deliver growth for the foreseeable future.”
 
In the year ended July 31, PROACTIS saw revenues drop from £7.4m to £6.2m, and posted an operating loss of £600,000, down from a profit of £1.1m the previous year.

PROACTIS said it was in a debt free position. It is halving its full year dividend to 0.55p.