LONDON (Alliance News) - StatPro Group PLC on Monday said that both revenue and profit in the first nine months of 2015 are in line with expectations for the year as a whole.
StatPro, which provides portfolio analysis and asset pricing services for investment managers, said annualised recurring revenue for StatPro Revolution grew by 68% to GBP7.2 million, meaning the cloud-based portfolio analysis service now represents a quarter of overall annualised recurring revenue.
"We have had a good third quarter, in what is normally a quiet period, which reflects the growing momentum of StatPro Revolution," Chief Executive Justin Wheatley said in a statement. "Our sales pipeline remains strong. We look forward to a successful outcome for the current year and the continued execution of our cloud-based strategy."
The company said its board has approved a plan to buy back shares. The news follows the launch of a new performance share plan earlier in 2015.
Any shares purchased will initially be held in treasury.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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