StatPro Group PLC Year End trading update (3734N)
January 29 2016 - 2:00AM
UK Regulatory
TIDMSOG
RNS Number : 3734N
StatPro Group PLC
29 January 2016
29 January 2016
StatPro Group plc
Year End trading update
StatPro Group plc (AIM:SOG), the AIM listed provider of
cloud-based portfolio analysis and asset pricing services for the
global asset management industry, today announces a trading update
for the year ended 31 December 2015.
Highlights
-- Group revenue approximately GBP30.0 million (2014: GBP 32.02 million)
-- StatPro Revolution, the cloud-based portfolio analysis
service, ARR increased by 46% to GBP7.8 million
(2014: GBP5.4 million*)
-- Adjusted EBITDA expected to be approximately GBP4.0 million (2014: GBP4.36 million)
-- Net cash of GBP1.3 million at 31 December 2015 (2014: GBP2.7 million)
-- Post year end acquisition of Investor Analytics increases
Group pro forma ARR to approximately GBP32.0 million
* at constant currency
Justin Wheatley, Chief Executive of StatPro, commented:
"Despite Sterling's strength throughout 2015, we have achieved
our core objective of growing StatPro Revolution ARR by 46%. We are
now close to the end of our investment cycle in new technology with
the launch of our last product module due in the summer.
"Our early investment in cloud technology puts us in a very
strong position to becoming a leading innovator in the rapidly
digitising asset management industry. It also means that we can
take advantage of industry fragmentation and make acquisitions,
such as Investor Analytics.
"As a consequence we look forward to improving the Group's
profitability by a combination of both organic and acquisitive
growth."
Group
Group revenue is expected to be approximately GBP30.0 million
with adjusted EBITDA expected to be approximately GBP4.0 million.
As expected, Professional Services revenue was significantly lower
in 2015.
The Group generated positive operating cash flow; net cash was
GBP1.3 million (2015: GBP2.7 million) after continued
investment.
StatPro Revolution
ARR for StatPro Revolution increased by 46% to GBP7.8 million
(2014: GBP5.4 million*). The forward order book of contracted
revenue for StatPro Revolution was up 52% at 31 December 2015 to
GBP14.2 million (2014: GBP9.3 million*).
StatPro Seven
StatPro Seven recurring revenue was resilient with a net
cancellation rate at constant currency, excluding the impact of
conversions to StatPro Revolution, of around 3% (2014: nil).
Acquisition of Investor Analytics
On 22 January 2016, StatPro acquired Investor Analytics, a
US-headquartered provider of cloud-based risk services to hedge
funds and asset managers. This acquisition means that StatPro's
cloud-based ARR is now approximately GBP11.1 million, taking
cloud-based ARR to 35% of total Group ARR total of GBP32.0 million
on a pro forma basis.
Enquiries:
StatPro Group plc
Justin Wheatley, Chief +44 (0) 20 8410
Executive 9876
Andrew Fabian, Finance
Director
Panmure Gordon - Nomad
and Broker
Corporate Finance - Freddy
Crossley / Fred Walsh / +44 (0) 20 7886
Fabien Holler 2500
Corporate Broking - Tom
Salvesen
Instinctif Partners
Adrian Duffield / Lauren +44 (0) 20 7457
Foster 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 Annualised Recurring Revenue from less
than GBP1 million in 1999 to around GBP32 million today (including
Investor Analytics 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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