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StatPro first-half profit drops as it transitions to cloud technology

Wed, 05th Aug 2015 11:11

(ShareCast News) - StatPro reported a drop in first-half profit and revenue on the back of continued product and cloud technology investment, in line with its expectations.Pre-tax profit fell 24% to £0.82m from £1.08m, while revenue nudged down to £15.44m from £15.71m as the company increased expenditure as part of its transition to becoming a cloud-based services provider.StatPro, which provides portfolio analysis and asset pricing services for the asset management industry, declared an interim dividend of 0.85p per share, unchanged from the first half of last year.Chief executive Justin Wheatley said: "We have maintained our high levels of recurring revenue and driven sales in our cloud-based service, StatPro Revolution, to both our existing customer base and a range of new customers. "With our forward order book of contracted revenue continuing to grow and the momentum that StatPro Revolution is developing, we remain on course to establish the group as a lower cost, higher margin pure cloud-based business."StatPro said it secured a £20m banking facility with Wells Fargo which will provide it with more flexibility to support its growth.At 1121 BST, shares were down 5.6% at 74.60p.
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9 Jan 2017 08:42

Statpro scores £1.5m contract with South African asset manager

(ShareCast News) - Statpro, an AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has signed a five-year contract with a global South African asset manager for a minimum value of around £1.5m. The client will use StatPro Seven

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9 Jan 2017 08:25

StatPro Wins GBP1.5 Million Contract With South African Asset Manager

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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

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19 Oct 2016 11:28

StatPro Group trading in line with expectations as it expands cloud platform

(ShareCast News) - Cloud-based software provider StatPro Group said it has been trading in line with expectations as it expanded its data platform product. In a trading update for the nine months ended 30 September, revenue and profits were in line with expectations for the year. Annualised recurri

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19 Oct 2016 07:07

StatPro Trading In Line With Strong Growth From Revolution Platform

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19 Sep 2016 06:53

StatPro's InfoVest Wins GBP1 Million Extension With US Asset Manager

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5 Sep 2016 15:14

StatPro signs £1.5m deal with US asset manager

(ShareCast News) - Cloud-based portfolio analysis and asset pricing services provider StatPro Group announced on Monday it has entered into a three-and-a-half-year contract with a US-headquartered "top ten global asset manager" for its Global Investment Performance Standards (GIPS) Composites servic

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3 Aug 2016 14:42

StatPro swings to loss as cloud services take flight

(ShareCast News) - Portfolio analysis tools provider StatPro Group posted its interim results for the six months to 30 June on Wednesday, with group revenue up 14% to £17.55m from £15.44m a year ago. The AIM-traded company said its flagship product, StatPro Revolution, had underlying revenue up 64%

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3 Aug 2016 07:31

StatPro Swings To Interim Loss On One-Off Costs But Revenue Surges

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19 Jul 2016 15:11

International contracts drive first half at StatPro

(ShareCast News) - Portfolio analysis and asset pricing service provider StatPro Group posted a trading update for the six months to 30 June on Tuesday, reporting a 26% increase in group annualised recurring revenue to £36.2m. The AIM-traded firm said that on a constant currency basis the rise was a

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19 Jul 2016 09:55

StatPro half-year recurring revenues soar 26%

(ShareCast News) - Investment software maker StatPro Group said half year annualised recurring revenues (ARR) rose 26% to £36.2m "Our forward order book continues to grow and we are trading in line with our expectations for the year as a whole," the company said in a trading statement. ARR from its

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19 Jul 2016 08:41

StatPro Recurring Revenue Grows In Half And On Track For Full Year

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14 Jun 2016 07:29

StatPro Wins GBP1.2 Million, Five-Year Deal With US Financial Group

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6 Jun 2016 06:22

StatPro Wins GBP2.3 Million Deal With Australian Financial Group

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19 May 2016 08:39

StatPro Making Progress On Cloud Push As Trading Meet Expectations

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