StatPro Trading In Line With Expectations

LONDON (Alliance News) - StatPro Group PLC said Thursday it had traded in line with expectations in the year ended December 31 2013, as it saw recurring revenue from its StatPro Revolution software more than double, while revenue from its StatPro Seven software declined.

StatPro provides software for the asset management industry.

The company saw recurring revenue for its StatPro Revolution service more than double to GBP3.2 million from GBP1.5 million in the previous year. The service also saw client numbers increase to 257 from 156, and average contract value rise to 31% from 7%.

However, its StatPro Seven and Data services saw recurring revenue reduce 5% at is stopped actively marketing them. A replacement for StatPro Seven is progressing well, StatPro said, with a second beta version of the software released in November 2013.

StatPro said it plans to increase its investment in sales and client services teams in 2013. It will release its full-year results March 12.

Shares in StatPro were trading up 0.8% at 86.70 pence Thursday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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