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StatPro targets improved margins as trading continues as expected

Rory Curran, chairman of the portfolio and risk management group, said all of its divisions were all performing in line with expectations

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StatPro is also on the lookout for acquisitions having increased its banking facilities to £49.1mln

StatPro Group PLC (LON:SOG) has said it is targeting improved EBITDA margins going forward as it delivered an in-line trading update ahead of its AGM on Thursday.

Rory Curran, chairman of the portfolio and risk management group, said all of its divisions - Revolution, Source: StatPro and Infovest - were all performing in line with expectations.

READ: StatPro inks three-year contract extension with top 20 fund administrator

The company is also on the lookout for more strategic acquisitions, Curran said, having recently increased its banking facilities to £49.1mln to provide additional capacity for purchases.

StatPro also highlighted two recent contract wins with an EU investment manager and a top 20 fund administrator respectively, which carried a combined value of €3.64mln.

The group’s integration plan for Delta, a performance and risk analytics service StatPro bought from UBS in 2017, was also progressing to plan, it said.

"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”, Curran concluded.

In mid-morning trading on Thursday, StatPro shares were 0.9% lower at 131.3p.

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Quick facts: StatPro Group PLC

Price: 228 GBX

LSE:SOG
Market: LSE
Market Cap: £158.88 m
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