StatPro Group PLC AGM statement and trading update (9026Z)

TIDMSOG

RNS Number : 9026Z

StatPro Group PLC

23 May 2019

23 May 2019

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:

"StatPro's aim is to become the world's leading cloud-based portfolio analytics provider.

"Over the past year, we have continued to make good progress towards this goal and our current trading remains in line with expectations.

"Looking ahead, our focus will be on these areas:

   -- Improving our EBITDA margins in all areas of the business. The move to a divisional structure is designed to 
      improve profitability and transparency. The three divisions, Revolution, Source: StatPro and Infovest, are 
      performing in line with our expectations. 
   -- Ensuring the Delta integration is a success. The Delta continuity project to integrate the Delta functionality 
      into the Revolution platform continues to progress to plan and as regulations evolve, so we are providing our 
      clients with extended services to mitigate their cost of meeting onerous and multiple requirements. 

"We have recently announced two significant contract wins, one being a three-year contract, with an EU investment manager for Revolution Delta, with a minimum contract value of EUR1.2 million, including the addition of a new module to cover the new EU Money Market Regulations. We also secured a three-year contract extension with a top 20 Fund Administrator for Revolution, with a minimum contract value of GBP2.44 million.

"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. We believe we have significant competitive advantage in this sector due to our technology and expertise.

"We continue to look for strategic acquisitions. We recently increased and extended our banking facilities to approximately GBP49.1 million in order to provide additional capacity for financing future acquisitions and to strengthen our long-term financial structure.

"With our investment in a massively scalable state-of-the-art cloud technology platform and our deepening relationships with asset management service providers, we are strategically well placed for future growth."

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

Enquiries:

 
 StatPro Group plc 
 Justin Wheatley, Chief Executive        [phone] 
 Andrew Fabian, Finance Director 
 
 Panmure Gordon - Nomad and Broker 
 Corporate Finance - Freddy Crossley 
  / Fabien Holler                        [phone] 
 Corporate Broking -James Stearns 
 
 Instinctif Partners 
 Adrian Duffield/Kay Larsen/Chantal 
  Woolcock                               [phone] 
 

About StatPro

StatPro Group (www.statpro.com) provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers.

The Group has 10 offices in Europe, North America, South Africa and Australia, servicing around 500 clients in 40 countries. It is organised into three divisions: Revolution, Source: StatPro and Infovest.

Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.

Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division's integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.

Infovest, supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools as well as portfolio management solutions.

StatPro Group plc shares are listed on AIM.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCEASSAASKNEFF

(END) Dow Jones Newswires

May 23, 2019 02:00 ET (06:00 GMT)