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StatPro delighted with response to new module

Published: 07:31 19 Oct 2016 BST

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Shares in StatPro are up 49% year-to-date.

Trading in the first nine months of the year at portfolio analytics software provider StatPro Group PLC (LON:SOG) has been in line with expectations.

The transition to a full cloud-based platform continues, with annualised recurring revenue for StatPro Revolution in the 12 months to 30 September rising by 81% to £14.7mln from £8.2mln (on a constant currency basis) at the same point of 2015, thanks in part to the contribution from Investor Analytics’ cloud-based risk service, which was acquired in January 2016.

StatPro Revolution is supplanting the group’s legacy StatPro Seven product, which is not cloud-based. Revolution now accounts for 39% of the group’s annualised recurring revenue, up from 25%, on a constant currency basis, a year earlier.

The group also gave an update on the reception to its new portfolio performance measurement module, StatPro Revolution Performance, which was released towards the end last month.

"Although StatPro Revolution Performance was only released on 28 September, one of our beta clients, National Australia Bank, has already gone live with eight of its clients on the platform,” chief executive Justin Wheatley revealed.

"We are delighted by the reception that Revolution Performance has received from clients, prospects and industry specialists following its recent launch and subsequent marketing events around the world," he added.

Shares in StatPro are up 49% year-to-date.

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