StatPro Regulatory News (SOG)

16 May 2007 07:01

Statpro Group PLC16 May 2007 For Release at 07.00 Wednesday, 16 May 2007 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 and datasolutions for the global asset management industry, will make the followingstatement on the Group's continuing progress: "Trading for the first four months of 2007 is in line with expectations and isahead of the same period in 2006, reflecting the benefit of recent acquisitions.However, the strength of sterling, in particular against the US dollar, shouldit remain at its current level, is expected to continue to affect our reportedresults. Our overall sales pipeline continues to expand as new opportunities arise forour enlarged product suite. Pleasingly the average prospect case size isincreasing, although with increasing size and complexity comes a lengthening ofthe sales process. We are pleased with the three acquisitions completed in 2006 which are beginningto yield benefits. In particular, recurring revenue from StatPro PortfolioCompliance (acquired from Kizen) has almost doubled since its acquisition in May2006 and we have achieved our first sales in the Australian market as well asidentifying further opportunities in this market following the Alphaiacquisition in April 2006. We continue to make good progress with our plans for the North Americanoperations following the acquisition of FRI in October 2006, where our focus hasbeen on servicing existing clients and developing new data product offerings. Wehave achieved further cross selling successes and we are still on course tolaunch our first integrated products in the fourth quarter of 2007. Overall, the Board remains confident of the Group achieving another year of goodprogress." - 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/Miranda Good 020 7360 4900 Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticsand data solutions for the global asset management industry. StatPro floated onthe London Stock Exchange in May 2000 and transferred its listing in June 2003to AIM. StatPro has grown its revenue from continuing operations from £1.8million in 1999 to £14.6 million in 2006. This information is provided by RNS The company news service from the London Stock Exchange