Swedish integrator Proact has posted a mixed first quarter of 2019, with revenues leaping by as much as 20 per cent but profits shrivelling on an annual basis.
Sales for the three months until 31 March 2019 came in at SEK 910m (€85.63m), a 20 per cent year-on-year increase.
But profits took a hit for the top NetApp partner, with EBITA falling by 4.6 per cent to SEK 43.1m and profits before tax tumbling by an even steeper 19.2 per cent to SEK 26.8m.
The profit decline was down to "items affecting profitability" totalling SEK 11.1m for the quarter. Adjusted for these extra costs, profits before tax actually grew for Proact by 5.9 per cent to SEK 37.9m.
The Q1 figures follow on from a barnstorming 2018 for Proact. Profits before tax surged by 13 per cent to SEK 167.8m while revenues topped SEK 3.32bn - a two per cent boost on the previous year.
Proact got a new CEO in September, with former Telia exec Jonas Hasselberg taking the mantle. Hasselberg has already set out a vision to conduct a series of acquisitions in the UK market.
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