Back to black for Proactis

SPEND control software provider Proactis has increased annual revenues and returned to profitability.

Revenue for the year ended July 31 rose by £1.3m to £7.5m. The Wetherby-based business also turned round a £600,000 operating loss in 2011 to a £100,000 operating profit.
 
The company confirmed it had won 28 new deals with a total contract value of £3.5m over the year.
 
Proactis is debt free and will pay an increased dividend of 0.75p per share.
 
Chrief executive Rod Jones said: “Proactis has significantly increased its revenues in continued difficult market conditions. 

“It has returned to profitability and the level of cash generation has been strong. It continues to progress with its transition to a blended SaaS/Perpetual business model and has further improved its visibility over future revenue. 

“The board is confident that the Group is well placed to deliver growth for the foreseeable future.”