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Monday 17 July 2017

StatPro update shows continued progress

logoStatPro, the increasingly cloud-based provider of portfolio analysis and asset pricing services has published a brief trading update, before the full report on half-year figures which will be delivered on August 2nd.

Trading has been in line with management expectations, with a further shift towards cloud. Group Annualised Recurring Revenue (ARR) from SaaS solutions now comprises 82% of the Group total, up from 74% last year. Group ARR was up by 47% to £53.2m. We should get a clearer view of organic growth and profitability trends when the full figures are forthcoming. The integration of newly-acquired UBS Delta is going well.

2017 should be a year of significant progress for StatPro. We would look for a substantial pipeline of business as StatPro Seven customers migrate to the Revolution Performance cloud-based replacement. Cost synergies may take some additional time to come through, but we would look for revenue gains as annuity revenues build, greater cross-selling and capture of wallet share. The UBS deal gives more scale and resources in the increasingly important area of risk management.

Posted by Peter Roe at '09:50' - Tagged: cloud   software   risk  

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