LONDON (Alliance News) - StatPro Group PLC on Wednesday said it is well placed going forward after posting solid revenue and earnings growth in 2018.
Revenue is guided to be 11% higher year-on-year at GBP54.7 million, with annualised recurring revenue set to rise 4% to GBP55.7 million.
Its annualised recurring revenue renewal rate is set to be 92%, improved from 89% in 2017.
StatPro, which provides cloud-based portfolio analysis and asset pricing services, has guided for adjusted earnings before interest, tax, depreciation, and amortisation of GBP9.0 million, 32% up year-on-year.
StatPro's adjusted Ebitda margin is guided to be over 16%, from 13.9% in 2017.
Chief Executive Justin Wheatley said: "Sales in the fourth quarter last year were robust, notably achieving a higher organic growth in Revolution annualised recurring revenue.
"Overall we signed 20 clients in eight different countries for contracts greater than USD100,000 per annum, including seven banner deals in 2018, underscoring the momentum we are building across the industry."
Wheatley continued: "As we have stated before, we are focused on improving our margins and have delivered a significant increase in adjusted Ebitda margin in 2018 - this remains a focus for the current year.
"Following a period of investment in cloud technology, the rapid changes in the asset management industry and our deepening relationships with asset management service providers, we are strategically well placed for growth."
Shares were down 6.8% lower on Wednesday at a price of 118.30 pence each.
