News blog
Proactis
- BY: Andrew Hore |
- POSTED: 18/04/2010 |
Proactis edged up its revenues and profits in the six months to January 2010.
The spend control software supplier grew revenues by 10% to £3.47m, including recurring revenues of £1.62m. There were 16 new licence deals in the period. Investment in marketing increased expenses. Pre-tax profit still improved from £377,000 to £382,000.
Control of spending will become increasingly important, particularly in the public sector.
House broker Daniel Stewart expects full year profits to increase from £1.1m to £1.3m. Proactis is about to start to pay tax so earnings per share will be held back.
Net cash was £2.35m at the end of January 2010.
At 30p a share, Proactis is valued at £9.32m. The shares are trading on less than 10 times prospective 2009-10 earnings - based on an 18% tax charge.
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