StatPro Group PLC South African financial institution contract

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StatPro Group PLC

23 October 2018

RNS REACH

23 October 2018

StatPro Group PLC

Large South African financial institution signs contract for ZAR 19.5 million (GBP1.0 million)

StatPro Group PLC ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has secured a five-year contract with a large South African financial institution for its Infovest service, worth approximately GBP1.0 million.

The financial institution is an existing client of the Group, with this being the first Infovest product it has purchased. It will use Infostore to provide a consolidated view of all its positions in the market on a daily basis. In addition, the solution will enable business intelligence and analytics.

Justin Wheatley, Group CEO, commented:

"This contract win is confirmation of the excellent quality of our Infovest data management solution. Infovest's vast experience in providing data management solutions in the financial sector, along with its strong focus on data governance and excellent implementation track record, were significant factors in the awarding of the contract.

"We see data management and governance as significant growth drivers for StatPro as most asset managers and financial institutions need a cost effective and efficient way to manage ever increasing volumes of data."

Enquiries:

 
   StatPro Group plc 
                                              +44 (0) 20 8410 
   Justin Wheatley, Chief Executive            9876 
   Andrew Fabian, Finance Director 
 
   Panmure Gordon - Nomad and Broker 
   Corporate Finance - Freddy Crossley        +44 (0) 20 7886 
    / Fabien Holler                            2500 
   Corporate Broking - James Stearns 
 
   Instinctif Partners 
   Adrian Duffield / Kay Larsen / Chantal     +44 (0) 20 7457 
    Woolcock                                   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 open source Freedom Index.

The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world.

StatPro has grown its Annualised Recurring Revenue from less than GBP1 million in 1999 to around GBP54 million today.

Around 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.

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October 23, 2018 02:00 ET (06:00 GMT)

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