A surge in full-year revenues for Proactis (PHD) mainly reflects the integration of last year's acquisitions. That said, an underlying organic growth rate of 12 per cent, and a 22 per cent rise in recurring revenues, suggests the trading success of the specialist software provider isn't confined to its new business strands.
The three acquisitions - EGS Group, Intesource and Intelligent Capture - were completed between February and August 2014. Between them these businesses accounted for 45 per cent of group revenue in the year to July and helped drive gross profit up 85 per cent to £13.8m. However, the deals and a subsequent reorganisation did lead to various one-off costs that reduced operating profit from an adjusted £2.9m (FY 2014: £1.1m) to £1.6m.