StatPro Group PLC AGM statement and trading update (9026Z)
May 23 2019 - 1:00AM
UK Regulatory
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 +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley
/ Fabien Holler +44 (0) 20 7886 2500
Corporate Broking -James Stearns
Instinctif Partners
Adrian Duffield/Kay Larsen/Chantal
Woolcock +44 (0) 20 7457 2020
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 rns@lseg.com or visit www.rns.com.
END
MSCEASSAASKNEFF
(END) Dow Jones Newswires
May 23, 2019 02:00 ET (06:00 GMT)
Statpro (LSE:SOG)
Historical Stock Chart
From Apr 2024 to May 2024
Statpro (LSE:SOG)
Historical Stock Chart
From May 2023 to May 2024