- Spend management group Proactis said it had signed new contracts with worth a combined £11.3m cumulatively in the year to date.

The figure had already matched the equivalent performance for the whole of the prior financial year.

The rise was driven by the company's 'refreshed go-to-market strategy' and a return to growth of recurring revenue in the subscription business.

'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,' Proactis said.

'However, at this stage, the group's business model as a whole is proving resilient.'

At 9:15am: [LON:PHD] PROACTIS Holdings PLC share price was +1.5p at 37.5p

Story provided by