- Spend-management group Proactis Holdings swung to an annual profit after the acquisition of payment provider Perfect Commerce helped it boost sales.

Pre-tax profit for the year through July amounted to £3.7m, compared to a loss of £2.7m on-year.

Adjusted pre-tax profit, which stripped out one-off items such as acquisition expenses, jumped to £12.0m, up from £4.2m.

Proactis declared a final dividend of 1.5p per share, up from 1.4p on-year.

'This has been the first full year of ownership of Perfect which has dramatically changed the group's profile and has accelerated its strategy,' chief executive Hampton Wall said.

'The group is well positioned for the coming year, is currently trading in line with management expectations and the board looks forward to driving value for its shareholders.'

At 9:10am: [LON:PHD] PROACTIS Holdings PLC share price was +10p at 142.5p

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