19 May 2016 07:00
19 May 2016
StatPro Group PLC
AGM statement and trading update
StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, is holding its Annual General Meeting today.
Carl Bacon, the Group's Chairman, will make the following statement:
"Trading in the first quarter of the current financial year is in line with our expectations. With approximately 36% of our annualised contracted revenue now coming from our cloud services, we continue to make good progress towards becoming a pure cloud-based analytics service provider.
"New sales of our cloud service, StatPro Revolution, progressed well. We have signed new business from new clients and conversions and upsells to existing clients. The pipeline for the remainder of the year is strong.
"We continue to invest in our cloud-based capabilities and StatPro Revolution Performance will be launched, as planned, in Q3 2016.
"The integration of the recently acquired Investor Analytics is proceeding as planned with a focus on business synergies and the integration of the IA product into the Revolution platform.
"The InfoVest acquisition, which is being run as an autonomous operation, is making good progress with the new focus on sales and support for StatPro Portfolio Control.
"As separately announced this morning, immediately following the AGM, we will be appointing David Courtley and Rory Curran as non-executive directors. Their wealth of experience in growing technology businesses will make a great contribution at this exciting time in our evolution."
Enquiries:
StatPro Group plc |
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Justin Wheatley, Chief Executive |
| +44 (0) 20 8410 9876 |
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Andrew Fabian, Finance Director |
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Panmure Gordon - Nomad and Broker |
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Corporate Finance - Freddy Crossley / Fred Walsh / Fabien Holler |
| +44 (0) 20 7886 2500 |
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Corporate Broking - Tom Salvesen |
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Instinctif Partners |
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Adrian Duffield / Lauren Foster |
| +44 (0) 20 7457 2020 |
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About StatPro
StatPro is a global provider of award winning portfolio analytics solutions for the investment community. The Group's cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance. This multi-asset class analytics platform helps StatPro's clients increase assets under management, improve client service, meet tough regulations and reduce costs.
The Group's integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the licence free Freedom Index.
StatPro has grown its Annualised Recurring Revenue from less than £1 million in 1999 to around £32 million at end December 2015 (including Investor Analytics and InfoVest acquisitions in 2016 on a pro forma basis). The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 38 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.