StatPro Group PLC AGM statement and trading update (7306F)
May 22 2017 - 1:00AM
UK Regulatory
TIDMSOG
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 +44 (0) 20 8410
Executive 9876
Andrew Fabian, Finance
Director
Panmure Gordon - Nomad
and Broker
Corporate Finance - Freddy +44 (0) 20 7886
Crossley / Fabien Holler 2500
Corporate Broking - Tom
Salvesen
Instinctif Partners
Adrian Duffield / Kay Larsen +44 (0) 20 7457
/ 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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