StatPro Group PLC Year end trading update (8489C)

TIDMSOG

RNS Number : 8489C

StatPro Group PLC

25 January 2018

25 January 2018

StatPro Group plc

Year end trading update

StatPro Group plc, (AIM: SOG, "StatPro", "the Group"), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, announces a trading update for the year ended 31 December 2017.

   --      Group revenue expected to be approximately GBP49.0 million up 30% (2016: GBP37.6 million) 

-- Group Adjusted EBITDA(1) expected to be approximately GBP6.9 million up 35% (2016: GBP5.1 million)

-- Group Annualised Recurring Revenue ("ARR") increased by 39% to GBP53.0 million (2016: GBP38.1 million(2) )

   --      StatPro Revolution ARR increased organically by 13% 
   --      ARR for cloud services (including Delta) increased by 106% 
   --      ARR for Seven (excluding impact of conversions) increased by 2% 
   --      Net debt was GBP20.2 million (2016: GBP10.1 million) following investment in acquisitions 

(1) Adjusted EBITDA is EBITDA after adjustment for amortisation of acquired intangible assets, goodwill impairment, acquisition transaction, redundancy and other integration costs, fair value movements on non-controlling interest put option and share based payments

(2) At constant currency

Justin Wheatley, Group CEO, StatPro, commented:

"The acquisition and successful integration of Delta in May was the highlight of 2017. Delta has since increased sales and plans are in place to achieve functional parity for Delta within StatPro Revolution.

"Q4 was the best quarter in 2017 for new sales of StatPro Revolution. StatPro Revolution ARR increased organically by 13% in 2017 with our overall cloud ARR rising 106%. As a result, we are very confident that we will make further good progress in growing revenue and profits in 2018."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

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 / James Stearns 
 
 Instinctif Partners 
 Adrian Duffield / Chris        [phone] 
  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.

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 GBP53 million at the end of December 2017. Over 75% 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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January 25, 2018 02:00 ET (07:00 GMT)