- Business spend management group Proactis maintained its full-year guidance, having continued to trade 'well' through the early stages of the Covid-19 crisis.

Proactis said its business was based primarily on a recurring revenue, long term, SaaS based contract model that offered 'robustness and security in periods of short-term uncertainty and a high degree of visibility'.

Total contract value, excluding the value of renewals, had increased from to £10.4m in the eight months through March, up from £7.5m for the six months through January, the company said.

'The group has responded well to a period of significant disruption and uncertainty,' Proactis said.

'Whilst mindful of potential delays to new customer contracts and the implementation of existing projects in the short-term during the early stages of the Covid-19 crisis, the board remains confident of the opportunity to accelerate new business substantially in the medium term.'

'Cash flow has been strong and the group remains comfortably within its existing facilities.'

'Accordingly, at this stage, the board maintains its guidance for the full year outcome and its confidence for the continued progression of the group.'

At 9:02am: [LON:PHD] PROACTIS Holdings PLC share price was +2p at 20.5p

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