TIDMPHD

RNS Number : 6815N

PROACTIS Holdings PLC

22 May 2020

22 May 2020

Proactis Holdings PLC

Performance Update

Proactis Holdings PLC ("Proactis", the "Group" or the "Company"), the business spend management solution provider, is pleased to announce that the Group has signed new contracts with a total contract value of GBP11.3m cumulatively in the year to date, which equals the equivalent performance for the whole of the prior financial year.

This improved new business performance has been driven by the Group's refreshed go-to-market strategy and, in tandem with improved retention performance, annual recurring revenue from the Group's buyer subscription business has returned to organic growth for the year to date.

The Group continues to carefully monitor the developments with respect to the COVID-19 outbreak and is not immune from its impact, particularly with regard to its supplier-paid business and its implementation services. However, at this stage, the Group's business model as a whole is proving resilient.

For further information, please contact:

 
 Proactis Holdings PLC                                     01937 545070 
 Tim Sykes, Chief Executive Officer                        investorcontact@proactis.com 
 finnCap Ltd 
  Stuart Andrews/Carl Holmes/Matthew Radley - Corporate 
  Finance 
  Andrew Burdis/Richard Chambers - ECM                     0207 220 0500 
 
 Alma PR                                                   020 3405 0205 
  Rebecca Sanders-Hewett, Sam Modlin, David Ison            Proactis@almapr.co.uk

N otes to Editors:

Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure. Its solutions are used in over 1,000 buying organisations internationally from the commercial, public and not-for-profit sectors.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 22, 2020 02:00 ET (06:00 GMT)

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