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Additional Information

Market:	AIM
Sector:	Software
EPIC:	SOG
Latest Price:	80.50 (0.00%)
52-week High:	126.50
52-week Low:	74.50
Market Cap:	49.37M

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StatPro Full StatPro profile here

StatPro provides portfolio analytics services for asset management firms. With hundreds of clients worldwide, StatPro is one of the leading companies in its field. Its business model is to charge annual subscription fees, typically on three year contracts. This provides stable and growing revenues and profits allowing StatPro to invest heavily in new technology: over 30% of StatPro’s staff work in R&D.

The latest innovation from StatPro is a new “Software as a Service” product aimed at the vast market of smaller asset managers which offers performance and risk analytics for a fraction of the usual price.

Visit Statpro’s Investor Centre for key financial data and company information of value to an analyst, shareholder or potential investor here

StatPro outlines plans to focus on new Revolution product

Friday, January 27, 2012 by Ian Lyall

StatPro Group (LON:SOG) chief executive Justin Wheatley said he is “pleased” with the early commercial performance of StatPro Revolution, its low cost, high spec analytics package for fund managers.

Recurring revenue from the product totalled £470,000 for the nine months after launch and it is gaining traction in all its key markets.

Revolution takes the group into cloud-based computing where programmes are delivered on demand via the internet, rather than sold as rentals and installed on customers’ premises.

StatPro said increasing demand from clients to migrate to a cloud-based platform and its confidence in Revolution’s commercial potential had convinced it to shift its sales focus.

I revealed this morning it is accelerating its plans to invest in cloud technology and focus all its efforts on Revolution.

The changes will result in annual cost reductions of around £1.6 million at a one-off cost of £800,000.

StatPro said the current recurring revenue for Seven, its existing product, and data contracts is £29 million and the renewal rate in 2011 was around 92 per cent.

All these existing clients “represent a rich potential market” for Revolution as it upgrades them to it new cloud technology over the next few years, the company added.

In a wide-ranging update on trading StatPro said net debt had fallen to £3.4 million as at the end of last year from £5.5 million previously.

Lower consultancy income will result in revenues being “marginally lower” than expected, it was revealed.

But costs have been tightly managed so earnings are expected to be in line with forecasts.

CEO Wheatley said: "The board is pleased with the early success of StatPro Revolution in its launch year.

“Our StatPro Seven business has remained steady, providing a strong source of recurring revenue and profits.

“We believe our early action to invest in cloud technology will ultimately improve margins going forward and are confident of a successful outcome for the year."

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