Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

StatPro finished 2017 strongly and is confident of further progress in 2018

In 2017, annualised recurring revenue for cloud services, including Delta (acquired in May) increased by 106% from 2016
Statpro Revolution
The provider of cloud-based portfolio analysis and asset pricing services is confident of delivering further growth this year

The fourth quarter was the best of the year for sales of Revolution, the flagship product of portfolio analytics services provider StatPro Group PLC (LON:SOG).

The group announced in a trading update that full-year revenues for 2017 are expected to be around £49.0mln, up 30% from £37.6mln the year before.

READ: StatPro pleased with UBS Delta team as it hands over down payment on acquisition

Annualised recurring revenue (ARR) for the group as a whole rose by 39% on a constant currency basis to £53.0mln from £38.1mln the year before. ARR for StatPro Revolution rose 13% organically.

Adjusted underlying earnings are expected to be roughly £6.9mln, up 35% from £51mlm the year before.

Net debt at the end of the year had doubled to £20.2mln from a year earlier as the company ploughed money into its acquisitions.

READ: StatPro continues to drive annualised recurring revenues higher

"The acquisition and successful integration of Delta in May was the highlight of 2017. Delta has since increased sales and plans are in place to achieve functional parity for Delta within StatPro Revolution,” said Justin Wheatley, the group chief operating officer of StatPro.

"Q4 was the best quarter in 2017 for new sales of StatPro Revolution. StatPro Revolution ARR increased organically by 13% in 2017 with our overall cloud ARR rising 106%. As a result, we are very confident that we will make further good progress in growing revenue and profits in 2018." 

Shares in StatPro were up 4.5% in early deals.

View full SOG profile View Profile

StatPro Group PLC Timeline

Big Picture
February 19 2018

Related Articles

Mobile payments
March 13 2018
More ways of paying attract more customers, which makes merchants keener to work with Bango
TV zapper
March 09 2018
Main shareholder Ernesto Tinajero has followed up a US$1.7mln convertible loan with a further US$3mln one-year facility
Young girl with laptop
May 17 2018
After mulling for almost a year whether to "draw stumps" and sell out, MMX decided a better course of action was to be the party doing the consolidating

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use