- Spend management group Proactis said it expected to report higher first-half earnings, despite a fall in sales, as margins improved.

Adjusted earnings before interest, tax, depreciation and amortisation for the six months through January were expected at £6.2 million, up from £5.6 million year-on-year.

Revenue was seen falling to £23.7 million, down from £24.5 million.

Proactis said margins improved following a restructuring of its management team and operating cost base.

'The group expects to be able to report performance in line with board's expectations for the period,' Proatics said of its outlook.

'Whilst the board is conscious of the ongoing impact that Covid-19 is having across the business, its confidence in the roup's prospects for the mid-term has been strengthened further through the strategic milestones that have been achieved during the period.'

At 8:41am: [LON:PHD] PROACTIS Holdings PLC share price was 0p at 38p

Story provided by