StatPro Group Predicts Advantages From Shift To Cloud Products

LONDON (Alliance News) - StatPro Group PLC, an AIM-listed provider of portfolio analysis and asset pricing services to asset managers, on Wednesday said that it expects another year of "good" sales growth for its Revolution product and that trading in 2016 has started well.

The group said it expects its operating margins and cash generation to improve as it effects a strategy based on deriving most of its revenue from cloud-computing products.

Cloud revenue, incorporating Revolution, Risk and Data, rose to GBP11.4 million in 2015, from GBP10.5 million in 2014, StatPro said, with revenue from its Seven product and non-cloud activities slipping to GBP18.8 million from GBP20.0 million.

"With the forthcoming release of StatPro Revolution Performance, StatPro will continue the process of moving its many clients of StatPro Seven onto StatPro Revolution," the company said.

As the group moves closer towards becoming a business with the majority of its revenues derived from cloud products, StatPro anticipates that its operating margins and cash generation will improve.

Overall, pretax profit rose to GBP2.41 million in 2015, from GBP2.37 million in 2014. Total revenue was down to GBP30.2 million in 2015 from GBP32.0 million in 2014. Operating expenses fell to GBP27.5 million in 2015, from GBP29.4 million in 2014. StatPro maintained its total dividend at 2.9 pence per share for 2015.

Shares in StatPro were up 2.3% at 75.72p on Wednesday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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