StatPro Group PLC Half year trading update (0578T)

TIDMSOG

RNS Number : 0578T

StatPro Group PLC

15 July 2015

StatPro Group PLC

Half year 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, provides a trading update for the six months ended 30 June 2015.

Highlights

   --      Group annualised recurring revenue up 4% to GBP28.6 million (H1 2014: GBP27.5 million*)

-- StatPro Revolution annualised recurring contract revenue up 61% to GBP6.5 million (H1 2014: GBP4.0 million*)

-- Recurring revenue from StatPro Revolution is now 23% of Group annualised recurring revenue (H1 2014: 15%*)

   --      Resilient renewal levels for StatPro Seven

* at constant currency

Justin Wheatley, StatPro Chief Executive, commented:

"We have continued to make good progress in the first half of 2015 and revenue and profits remain in line with market expectations for the full year.

"StatPro Revolution now represents 23% of our recurring revenues and is growing fast.

"Thanks to the investment we have made in cloud technology, we are in an excellent position to reap the benefits of being the leading innovator in our market. With our sales pipeline continuing to grow, we look forward to building upon this success and momentum."

StatPro Revolution

Sales of StatPro Revolution, the Group's cloud-based portfolio analysis service, grew strongly to GBP6.5 million. This annualised recurring run rate is up 61% compared to H1 2014 (GBP4.0 million*).

StatPro Revolution now represents 23% of Group recurring revenues, an increase from 15% in H1 2014 and 20% at the time of the Group's AGM on 20 May 2015.

StatPro Revolution related recurring revenue, defined as the total recurring revenue from clients whose subscription includes StatPro Revolution, increased to GBP13.1 million and now makes up 52% of Group software revenue (H1 2014: GBP9.8 million/41%*).

StatPro Seven

Annualised recurring revenues for StatPro Seven were resilient as expected with a less than 1% net reduction in renewal values* (excluding the impact of conversions).

* at constant currency

Enquiries:

 
StatPro Group plc 
Justin Wheatley, Chief Executive       020 8410 9876 
Andrew Fabian, Finance Director 
 
Panmure Gordon - Nomad and Broker 
Corporate Finance - Freddy Crossley 
 / Fred Walsh                          020 7886 2500 
Corporate Broking - Tom Salvesen 
 
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. 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 recurring revenue from less than GBP1 million in 1999 to around GBP29 million at 30 June 2015. 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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