logo-loader

Northland Capital Partners View on the City: Proxama and StatPro

Published: 08:23 12 Mar 2014 GMT

no_picture_pai

TMT: Proxama (LON:PROX)

PARTNERSHIP: INCREASED SECURITY ON NFC LOYALTY PROGRAMMES

  • Partnership with HID Global, a provider of security identity solutions, to develop quick to deploy secure mobile web-based coupon and loyalty schemes.
  • HID Global’s Trusted Tag Services transmits a unique code every time an NFC tag is tapped, enabling retailers to provide an easy and secure loyalty and coupon facility. This will be combined with Proxama’s TapPoint loyalty platform.
  • HID’s unique code ensures that a single tap does not lead to rewards being collected multiple times.

NORTHLAND UK VIEW: Logical functional extension to Proxama’s TapPoint platform to provide retailers and brands with unique campaign analytics and customer profile insights as they move loyalty cards and coupons to mobile. Newsflow from Proxama has been positive over the past month with the partnership with Weve, the JV between the UK’s three largest MNOs, to develop a mobile loyalty service the standout feature. NFC is at an interesting point in its development with most phones now enabled but consumer adoption still at a nascent stage. Proxama has a number of significant partnerships and the share price performance assumes a high level of growth.

 

TMT: StatPro (LON:SOG)

PRELIMS: REVOLUTION GAINING FURTHER TRACTION

  • Revenue +2% to £32.5m, adj. EBITDA -19% to £5.5m and PBT -18% to £3.1m, reflecting spend on StatPro Revolution. Net cash +9% to £4m. Adj. EPS -24% to 4.5p. Total DPS +4% to 2.8p.
  • Net contract growth rate for StatPro Revolution +114% to £3.2m in annualised recurring revenue. StatPro Revolution related recurring revenue +134% to £9.2m, representing 37% of total recurring revenue. Revolution now has 34 fund administrator partners (+13) and a total of 257 customers (+101). 
  • Small reduction in StatPro Seven revenue (-2%) to £24.0m and data revenue (-10%) to £4.2m.
  • Beta launches of StatPro R+ during 2013. 
  • Outlook – positive momentum behind StatPro Revolution with a growing pipeline of new business opportunities. 

NORTHLAND UK VIEW: Good progress made in StatPro’s shift to a purely cloud-based analytics provider. Considerable investment made into the Revolution product and product is gaining traction, migrating the existing customer base over as well as securing new customers amongst fund administrators and private wealth managers. Share price performance pretty flat on a 12-month basis as the shift in business model and investment in Revolution has depressed profitability. Consensus is looking for another step down in profits this year putting the shares on a PER of 23.0x. 

Accesso's landmark deal with SEVEN marks strategic growth in the Saudi Market

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown joins Proactive's Stephen Gunnion with details of a significant partnership with Saudi Entertainment Ventures (SEVEN). Brown noted the collaboration highlights accesso's strategy to grow its global footprint,...

25 minutes ago