StatPro Group PLC AGM statement and trading update (7306F)

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RNS Number : 7306F

StatPro Group PLC

22 May 2017

22 May 2017

StatPro Group PLC

AGM statement and trading update

StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based 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 is in line with expectations.

"New sales of StatPro Revolution and StatPro Seven have progressed well and the pipeline for the remainder of the year remains solid.

"As announced on 16 May, we achieved First Closing on the UBS Delta acquisition and we believe that the Delta team combined with StatPro is now a powerful force in portfolio analytics.

"With approximately 81% of our Annualised Recurring Revenue for software (on a pro forma basis including Delta revenue) coming from SaaS solutions, we continue to make good progress towards becoming the world leading cloud-based portfolio analytics service provider.

"This is my 18(th) and final AGM, and I am proud of the Group's achievements over the last 17 years, including 20% CAGR in revenue.

"The Company was listed in May 2000 with one primary product, a tool to assist asset managers achieve GIPS compliance, and a newly acquired performance attribution solution, which now forms part of the StatPro Revolution platform.

"I'm delighted to say that the GIPS compliance tool continues to thrive, with StatPro continuing to promote GIPS compliance worldwide. The GIPS 20/20 major rewrite will extend the value of GIPS compliance to alternative and other asset types.

"A decade ago, we took the bold strategic step of investing in cloud technology, which culminated in the launch of StatPro Revolution Performance in September 2016.

"Over the past 17 years we have acquired 13 businesses, including our significant recent acquisition of UBS Delta, which will allow us to extend our risk and performance analytics service from the middle to the front office.

"I will leave StatPro on 29 November with great confidence in the well-established and effective corporate and executive boards, handing over the Chairman role to Rory Curran.

"The asset management industry has changed dramatically in the last few years and must face up to a multitude of challenges including a low return environment, greater cost pressures, scarce alpha, increased regulation, and the challenge from passive investing and an increasing complexity.

"In our view, the solution is cloud technology, and StatPro is uniquely placed to leverage this to meet the pressing needs of asset managers."

Enquiries:

 
 StatPro Group plc 
 Justin Wheatley, Chief           [phone] 
  Executive                                  9876 
 Andrew Fabian, Finance 
  Director 
 
 Panmure Gordon - Nomad 
  and Broker 
 Corporate Finance - Freddy       [phone] 
  Crossley / Fabien Holler                   2500 
 Corporate Broking - Tom 
  Salvesen 
 
 Instinctif Partners 
 Adrian Duffield / Kay Larsen     [phone] 
  / Chris Birt                               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.

StatPro has grown its Annualized Recurring Revenue from less than GBP1 million in 1999 to around GBP53 million following the acquisition of UBS Delta. 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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May 22, 2017 02:00 ET (06:00 GMT)