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Proactiveinvestors United Kingdom StatPro http://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom StatPro RSS feed en Thu, 24 May 2012 01:27:39 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Issue of Shares ]]> http://www.proactiveinvestors.co.uk/companies/rns/120510sog1147d/ Thu, 10 May 2012 16:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120510sog1147d/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/120503sog6532c/ Thu, 03 May 2012 09:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120503sog6532c/ <![CDATA[News - StatPro Group pleased with progress of cloud-based Revolution product, Q1 trading in line UPDATE ]]> http://www.proactiveinvestors.co.uk/companies/news/42273/statpro-group-pleased-with-progress-of-cloud-based-revolution-product-q1-trading-in-line-update-42273.html --- Adds research comment ---

StatPro Group (LON:SOG) is pleased with the progress its cloud service, StatPro Revolution, has made in the first full year since its launch in March 2011 and said trading in the first quarter of 2012 has been in line with expectations.

In a statement prepared for today’s AGM, the group said the sales pipeline for StatPro Revolution continues to build and it now has 80 clients for the product.

It is also making good progress with custodian banks and fund administrators, who it believes will provide an important gateway for future prospects.

StatPro provides portfolio analysis and asset pricing services for the global asset management industry.

Sales of StatPro Seven have remained strong during the quarter. While the company has switched its sales focus to StatPro Revolution, it maintained a similar overall level of new sales for StatPro Seven compared to the comparative quarter in 2011.

Renewal rates remain high and are currently projected to be around 90 per cent or better for the full year.

StatPro opened its Hong Kong office in September 2011 and has had an “excellent first quarter” in the Asia/Pacific region with several new sales and a growing prospect list.

The reorientation of the business announced in our January 2012 - to focus on its cloud-based Revolution analytics package - is now completed.

It is progressing well with its development plans for StatPro Revolution Plus, the cloud-based replacement for StatPro Seven, and it expects the first modules to be launched in 2013.

Chairman Carl Bacon said: “StatPro has made the strategic decision to switch to cloud services because of the tremendous growth potential available with this new technology. As a result of our large client base and high levels of recurring revenue, we are able to maintain a significant level of investment in new products while generating good margin and paying down debt.

“The board remains confident of a successful outcome for the year.”

Edison Investment Research issued a note in response to the statement.

“StatPro continues to enjoy a first mover advantage with Revolution, and if the group can successfully scale the product we believe there is significant upside potential in the shares,” according to analyst Richard Jeans.

“Based on our maintained forecasts, the shares trade on 18.4x our FY12 earnings forecast, falling to 17.7x in FY13. These numbers continue to assume relatively modest targets for the StatPro Revolution cloud services product,” he added.

]]> Wed, 02 May 2012 12:15:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/42273/statpro-group-pleased-with-progress-of-cloud-based-revolution-product-q1-trading-in-line-update-42273.html <![CDATA[News - StatPro Group pleased with progress of cloud-based Revolution product; Q1 trading in line ]]> http://www.proactiveinvestors.co.uk/companies/news/42263/statpro-group-pleased-with-progress-of-cloud-based-revolution-product-q1-trading-in-line-42263.html StatPro Group (LON:SOG) is pleased with the progress its cloud service, StatPro Revolution, has made in the first full year since its launch in March 2011 and said trading in the first quarter of 2012 has been in line with expectations.

In a statement prepared for today’s AGM, the group said the sales pipeline for StatPro Revolution continues to build and it now has 80 clients for the product. 

It is also making good progress with custodian banks and fund administrators, who it believes will provide an important gateway for future prospects.

StatPro provides portfolio analysis and asset pricing services for the global asset management industry.  

Sales of StatPro Seven have remained strong during the quarter. While the company has switched its sales focus to StatPro Revolution, it maintained a similar overall level of new sales for StatPro Seven compared to the comparative quarter in 2011. 

Renewal rates remain high and are currently projected to be around 90 per cent or better for the full year.

StatPro opened its Hong Kong office in September 2011 and has had an “excellent first quarter” in the Asia/Pacific region with several new sales and a growing prospect list.

The reorientation of the business announced in our January 2012 - to focus on its cloud-based Revolution analytics package - is now completed.

It is progressing well with its development plans for StatPro Revolution Plus, the cloud-based replacement for StatPro Seven, and it expects the first modules to be launched in 2013.

Chairman Carl Bacon said: “StatPro has made the strategic decision to switch to cloud services because of the tremendous growth potential available with this new technology. As a result of our large client base and high levels of recurring revenue, we are able to maintain a significant level of investment in new products while generating good margin and paying down debt.

“The board remains confident of a successful outcome for the year.”

 

]]> Wed, 02 May 2012 09:53:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/42263/statpro-group-pleased-with-progress-of-cloud-based-revolution-product-q1-trading-in-line-42263.html <![CDATA[RNS press release - AGM Statement ]]> http://www.proactiveinvestors.co.uk/companies/rns/120502sog5283c/ Wed, 02 May 2012 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120502sog5283c/ <![CDATA[RNS press release - Posting of Annual Report & Notice of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/120403sog7565a/ Tue, 03 Apr 2012 16:03:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120403sog7565a/ <![CDATA[RNS press release - Director Shareholding, Issue of Shares ]]> http://www.proactiveinvestors.co.uk/companies/rns/120403sog7519a/ Tue, 03 Apr 2012 15:26:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120403sog7519a/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/120320sog6847z/ Tue, 20 Mar 2012 10:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120320sog6847z/ <![CDATA[News - StatPro: Chief executive Wheatley buys shares in company ]]> http://www.proactiveinvestors.co.uk/companies/news/40363/statpro-chief-executive-wheatley-buys-shares-in-company-40363.html StatPro's (LON:SOG) chief executive Justin Wheatley has bought shares in the company worth more than £25,000, the firm said today.

Yesterday (March 15), he bought 10,000 shares at 93 pence each for £9,300 and today, Wheatley bought 16,800 shares at 97 pence each for a transaction  price of £16,296.

The total cost of the purchases was £25,596.

Wheatley now holds around 11.83 per cent of the company, which provides analytics tools for the investment community.

On Wednesday this week, the company said it was looking forward to 2012 with "great confidence" as it released its 2011 results.

It said the potential for its Revolution product continued to grow and that despite the ongoing economic crisis, it has a strong financial platform, on which to build, it said as it unveiled its final results for 2011.

]]> Fri, 16 Mar 2012 14:58:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/40363/statpro-chief-executive-wheatley-buys-shares-in-company-40363.html <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/120316sog5275z/ Fri, 16 Mar 2012 13:17:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120316sog5275z/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/120315sog4682z/ Thu, 15 Mar 2012 18:18:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120315sog4682z/ <![CDATA[Media files - StatPro CEO says StatPro Revolution enables a global sales strategy ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/1069/statpro-ceo-says-statpro-revolution-enables-a-global-sales-strategy-1069.html Thu, 15 Mar 2012 15:44:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/1069/statpro-ceo-says-statpro-revolution-enables-a-global-sales-strategy-1069.html <![CDATA[News - StatPro outlines key strategy for 2012 as momentum for Revolution grows ]]> http://www.proactiveinvestors.co.uk/companies/news/40284/statpro-outlines-key-strategy-for-2012-as-momentum-for-revolution-grows-40284.html One of the key strategies to grow StatPro's cloud-based Revolution product in 2012 is to target fund administrators and custodian banks, says chief executive Justin Wheatley.

]]> Thu, 15 Mar 2012 09:10:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/40284/statpro-outlines-key-strategy-for-2012-as-momentum-for-revolution-grows-40284.html <![CDATA[News - StatPro confidence grows as Revolution gathers momentum ]]> http://www.proactiveinvestors.co.uk/companies/news/40213/statpro-confidence-grows-as-revolution-gathers-momentum-40213.html StatPro (LON:SOG) is looking forward to 2012 with "great confidence" as the potential for its Revolution product continues to grow, the firm said today.

Despite the ongoing economic crisis, the company, which provides computer analytics tools for the investment community, has a strong financial platform, on which to build, it said as it unveiled its final results for 2011.

Earlier this year the firm announced its shift of sales focus to Revolution and today it confirmed that it intended to focus in 2012 entirely on that product.

Today's results also reflected the company's shift away from traditional software to a cloud-based business, it said.

The figures showed that annualised recurring contract revenue was up 4 per cent to £29.41 million, while the annualised contract revenue for Revolution stood at £0.47 million.

"We have achieved our key objective for 2011 with the successful commercial launch of StatPro Revolution," said the company's chief executive Justin Wheatley.

"The transition from traditional software to cloud based software requires investment but also offers considerable opportunity for growth and profits.

"StatPro Revolution permits us to sell into a far broader market than was previously possible, both in terms of geography and sector.

"Sales to date of StatPro Revolution show that the service is applicable to a wide variety of companies.

"With over 60 clients already signed up and many more in the pipeline, the potential is evident.

"We believe that our early investment has given us a clear technology advantage in our market and we believe we will benefit strongly from this position over the coming years."

For the year to December 31, the firm posted a pre-tax profit of £3.86 million (2010: £5.62mln) on revenue of £31.72mln (2010: £33.13mln).

It maintained its high renewal rate on recurring contracts at 92 per cent and its adjusted EBITDA was reduced by 28 per cent to £6.12 mln due to the increased investment in cloud technology.

Net debt was reduced to £3.4 mln, from £5.52 mln in the previous year and the total dividend was increased 8 per cent to 2.6 pence.

StatPro also said that it had made good progress in transferring StatPro Seven clients (its other product) into StatPro hosted environment with 42 per cent by value now hosted.

It added that seven custodian banks and fund administrators are now acting as resellers for StatPro Revolution, bolstering the activities of its direct sales team.

The company also told investors that the first module of its upgrade to StatPro Seven - StatPro Revolution Plus - is due to be released in 2013.

"StatPro Revolution is an innovative product that can appeal to a broad market many times the size of StatPro's traditional market thus providing StatPro with a truly unique opportunity. For this reason, despite the ongoing financial and economic crisis, we look forward to 2012 with great confidence," said Wheatley.

]]> Wed, 14 Mar 2012 07:41:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/40213/statpro-confidence-grows-as-revolution-gathers-momentum-40213.html <![CDATA[RNS press release - Final Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/120314sog2968z/ Wed, 14 Mar 2012 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120314sog2968z/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/120217sog6330x/ Fri, 17 Feb 2012 10:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120217sog6330x/ <![CDATA[Media files - StatPro's cloud based asset managers' software Revolution ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/1018/statpros-cloud-based-asset-managers-software-revolution-1018.html StatPro (LON:SOG), talks about asset management cloud based portfolio analytic software for $100 per portfolio per month, changing the business model & disrupting the market, broad range of clients, about £4 million a year on R&D, reducing debt and paying a dividend (Jan 2012). ]]> Wed, 08 Feb 2012 10:42:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/1018/statpros-cloud-based-asset-managers-software-revolution-1018.html <![CDATA[News - Statpro: WAY Group buys Revolution package ]]> http://www.proactiveinvestors.co.uk/companies/news/38358/statpro-way-group-buys-revolution-package-38358.html Fund administrator WAY Group has purchased Revolution, StatPro’s (LON:SOG) new low cost, high spec analytics package, it was revealed today.

This latest contract takes to 51 the number of customers using the new cloud-based product.

StatPro chief executive Justin Wheatley reckons the price and functionality of Revolution are opening a whole new market for the company.

"Before StatPro Revolution, many investment managers were unable to afford performance measurement, attribution and risk analytics,” he added.

“Our cloud-based platform enables them to have access to a market leading service at a compelling price."

Way chairman Paul Wilcox agreed: "This service not only enables asset managers to reduce costs but increase assets under management, which in turn benefits us as the fund administrator."

Last week StatPro said it is changing the focus of its sales operation to concentrate solely on Revolution.

Its other product, Seven, is the responsible for the majority of the company’s turnover, but is on a slowly declining sales trajectory.

The range of clients and the geographic spread of the new sales has marked Revolution out as a product with true global potential.

It was also used by customers ranging from the small, independent fund managers with several million under management to a large.

"StatPro Revolution is revolutionary in that it is a comprehensive cloud based portfolio analytics solution bringing substantial benefits to asset managers as well as fund administrators globally," said WAY chairman Wilcox.

]]> Mon, 30 Jan 2012 14:54:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/38358/statpro-way-group-buys-revolution-package-38358.html <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/120130sog4079w/ Mon, 30 Jan 2012 14:39:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120130sog4079w/ <![CDATA[News - Statpro's Wheatley confident of Revolution's "vast potential" ]]> http://www.proactiveinvestors.co.uk/companies/news/38258/statpros-wheatley-confident-of-revolutions-vast-potential-38258.html Statpro's Revolution, the low cost, high spec cloud-based analytics package for fund managers, was launched at the end of last March and in just nine months has built a commendable revenue base of just under £500,000 after it signed 50 clients.

]]> Thu, 26 Jan 2012 11:06:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/38258/statpros-wheatley-confident-of-revolutions-vast-potential-38258.html