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PROACTIS holdings cut dividend

Investment Tools Ltd.
PROACTIS holdings cut dividend

The Prooactis Board announced in April 2019 that it had decided to suspend the payment of an annual dividend. Therefore, no final dividend is proposed (2018: 1.5p per ordinary share).

Other financial highlights include:

Reported revenues increased by 4% to £54.1m (2018: £52.2m)

Annualised recurring revenue ("ARR") maintained at £44.3m (2018: £44.5m)

Adjusted EBITDA of £15.1m (2018: £17.3m), in line with expectations

Impairment of £27.0m taken against US CGU as a result of the challenges in that market identified and announced during the Operational Review

Adjusted EPS 6.6p (2018: 10.6p)

Loss before tax £25.8m (2018: profit before tax £3.8m)

Net bank debt reduced to £36.5m (31 January 2019: £39.3m)

Net cash flow from operating activities £11.9m (2018: £8.4m)

Companies mentioned

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