StatPro Group PLC AGM statement and trading update (0995P)

TIDMSOG

RNS Number : 0995P

StatPro Group PLC

24 May 2018

24 May 2018

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.

Rory Curran, the Group's Chairman, will make the following statement:

"Trading in the current financial year is in line with expectations.

"New sales of our cloud service, StatPro Revolution, have progressed well, including sales to both new clients and conversions and upsells to existing clients. We continue to make good progress towards becoming the world leading cloud-based portfolio analytics service provider.

"A key part of our strategy is to address the needs of the global fund administration industry to provide best in class cloud-based portfolio analytics technology to their asset management clients. As previously announced, a top 10 global fund administrator is to convert to StatPro's cloud-based Revolution platform in a deal worth at least $500,000 per annum, illustrating the value of our strategic investment in our state of the art technology platform.

"As part of our continued investment in the important area of fixed income analytics and the integration of the Delta functionality into the Revolution platform, the Revolution fixed income module will be launched, as planned, in early Q3 2018.

"In our view, with our investment in a massively scalable state-of-the-art cloud technology platform, StatPro is uniquely placed to leverage this capability to meet the pressing needs of asset managers."

Enquiries:

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

StatPro has grown its Annualized Recurring Revenue from less than GBP1 million in 1999 to around GBP53 million at the end of December 2017. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.

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May 24, 2018 02:00 ET (06:00 GMT)