LONDON (Alliance News) - StatPro Group PLC Wednesday reported a rise in revenue in the first half of 2015 at constant currency levels and said that full-year revenue and profit remain in line with market expectations.
StatPro, which provides analytics solutions to the investment community, said that group annualised recurring revenue at constant currencies rose 4% in the six months ended June 30, to GBP28.6 million from GBP27.5 million in the first half of 2014.
Annualised recurring contract revenue for StatPro Revolution, the group's cloud-based portfolio analysis service, grew 61% to GBP6.5 million from GBP4.0 million at constant currencies. Annualised recurring revenue for StatPro Seven was "resilient" with a less than 1% net reduction in renewal values at constant currencies, StatPro said.
"We have continued to make good progress in the first half of 2015 and revenue and profits remain in line with market expectations for the full year. StatPro Revolution now represents 23% of our recurring revenues and is growing fast," Chief Executive Justin Wheatley said in a statement.
"Thanks to the investment we have made in cloud technology, we are in an excellent position to reap the benefits of being the leading innovator in our market. With our sales pipeline continuing to grow, we look forward to building upon this success and momentum," he added.
Shares in StatPro were untraded Wednesday morning, last trading at 80.00 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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