20 May 2015 07:00
20 May 2015
StatPro Group PLC
AGM statement and trading update
StatPro Group plc, (AIM: SOG, "StatPro", "the Group"), the leading provider of 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 to 31 December 2015 was in line with our expectations. With 20% of our annualised contracted revenue now coming from our cloud services, we are making good progress towards becoming a pure cloud-based analytics service provider and look forward to making further headway in the rest of this year.
"New sales of our flagship product, StatPro Revolution, continue to progress well, and we have signed new business both from new clients and upsells to existing clients.
"We continue to invest in our cloud-based capabilities and are launching the Advanced Risk Management module in the next few weeks as planned. This will expand the analytical capabilities of the StatPro Revolution platform to include advanced risk analytics and a new data model, based on market value prices. This is one of a number of enhancements to the product planned for 2015.
"Development of the StatPro Revolution performance module continues well and will be launched later in 2015.
"We are also delighted that StatPro Revolution was recently awarded the prestigious 2015 Financial Technologies Forum Award for the 'Best Performance Measurement & Attribution System'. This clearly demonstrates that our new technology can compete strongly against longer-established competitors.
"The resilience of StatPro Seven continues with annualised recurring revenue for StatPro Seven remaining unchanged as net new sales for this product offset any cancellations or reductions."
Enquiries:
StatPro Group plc | ||
Justin Wheatley, Chief Executive | 020 8410 9876 | |
Andrew Fabian, Finance Director | ||
Cenkos Securities | ||
Stephen Keys / Dr Christopher Golden | 020 7397 8900 | |
Instinctif Partners | ||
Adrian Duffield/Lauren Foster | 020 7457 2020 |
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. Thousands of investment professionals use StatPro's premium services directly or through a fund administrator or partner to perform advanced portfolio analysis, data management, reporting and online distribution every day. This multi-asset class, analytics platform helps StatPro's clients increase assets under management, improve client service, meet tough regulations and reduce costs.
With over 20 years' experience combining technology and industry expertise, StatPro believes portfolio analytics should add value, insight and competitive advantage while being flexible, scalable and cost-effective. 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 recurring revenue from less than £1 million in 1999 to around £29 million at 31 December 2014. StatPro floated on the main market of the London Stock Exchange in May 2000 and transferred its listing to AIM in June 2003. The Group has operations in Europe, North America, South Africa, Asia and Australia, and approximately 500 clients in 37 countries around the world. Approximately 80% of recurring revenues are generated outside the UK.