News blog

Proactis

  • BY: Andrew Hore |
  • POSTED: 23/04/2008 |

Proactis is going to fall well short of its broker’s optimistic forecasts for this year. 

The spend control software products supplier reported a swing from profit to loss in its interim figures. Revenues increased 50% to £3m in the six months to January 2008, with £1.9m classed as recurring income. The company’s costs have increased significantly and a profit of £278,000 was turned into a loss of £417,000.

Public sector sales have been weaker than hoped and there is no sign of an improvement. Proactis expects to make a loss in the full year. 

Six months ago Landsbanki forecast profits of £2.5m on turnover of £9.5m in 2007-08. Even adding back £600,000 of costs, including setting up in the US and product development, that the company said wouldn’t be repeated this year that was still going to be a big jump in profits. It made £874,000 before share based payment charges last year.

The shares slumped 8p to 38.5p.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds