StatPro Regulatory News (SOG)

17 May 2006 07:01

Statpro Group PLC17 May 2006 For Release at 07.00 Wednesday, 17 May 2006 STATPRO GROUP PLC ("StatPro" or the "Group") AGM Statement and Trading Update At its Annual General Meeting to be held later today, Carl Bacon, Chairman ofStatPro Group plc, the AIM listed provider of portfolio analytics solutions forthe global asset management industry, will make the following statement on theGroup's continuing progress: Highlights: • Trading for the first four months of the current financial year has started in line with our expectations and revenue is significantly ahead of the comparable period for 2005 • The annualised recurring value of new licences signed in the first four months is strongly ahead of the level achieved in the comparative period last year and the new business pipeline remains encouraging • With the completion of three acquisitions in the past twelve months and the launch of StatPro Fixed Income earlier this year, StatPro's product offering has both improved and broadened compared to a year ago • The recent placing of new shares, which raised approximately £2.5 million, has considerably strengthened the Group's balance sheet "During the first four months of 2006 we have increased the level of newbusiness compared to the same period in 2005, with improvements in all themarkets in which the Group operates. Furthermore, our new business pipelineremains at the highest level it has ever been. "The two acquisitions completed this year have added annualised recurringrevenue of approximately £750,000. These acquisitions have brought twocomplementary new products to the Group, whilst giving us a strong base in theAustralian market and strengthening our existing South African operations. Bothare expected to be earnings enhancing in their first full year of ownership. "In Australia, the acquisition of ALPHAI has brought an application serviceprovider ("ASP") performance product which will strengthen our product offeringglobally. The ability to offer an ASP solution (a web based solution offered asa managed service) is becoming increasingly important as an alternative serviceoffering in the expanding market for performance and analytics solutions. "In South Africa, the acquisition of Kizen has brought a compliance product at atime when there is increasing focus by asset managers on managing their risksand monitoring the compliance of their portfolios against client mandates. Theproduct, marketed as StatPro Portfolio Compliance, will be integrated with theStatPro product suite and is complementary, in particular, with the StatPro RiskManagement system. "In conclusion, the year has started strongly and in line with our expectationsand the Board therefore remains confident of the Group achieving another year ofvery solid progress. The Board continues to look for opportunities to expand thebusiness, whilst consolidating its strong market position as a supplier ofportfolio analytics solutions to the global asset management industry." - Ends - For further information, please contact: StatPro Group plcJustin Wheatley, Chief Executive 020 8410 9876Andrew Fabian, Finance Director Arbuthnot Securities LimitedTom Griffiths/Neil Kirton 020 7012 2000 SmithfieldReg Hoare 020 7360 4900 Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticssolutions for the global asset management industry. StatPro floated on theLondon Stock Exchange in May 2000 and transferred its listing in June 2003 toAIM. StatPro has grown its revenue from continuing operations from £1.8 millionin 1999 to £10.8 million in 2005. This information is provided by RNS The company news service from the London Stock Exchange