23rd May 2019 13:10
LONDON (Alliance News) - StatPro Group PLC on Thursday said it intends to focus on improving its earnings margins and integrating its Delta acquisition.
Speaking at the company's annual general meeting, Chair Rory Curran said the company is looking to improve its earnings before interest, taxation, depreciation, and amortisation margins across all of its business areas going forward.
Part of this is the shift to a divisional structure consisting of data-as-as-service unit Source: StatPro; data management unit Infovest; and portfolio analytics unit Revolution. So far, all three are performing as expected.
"The move to a divisional structure is designed to improve profitability and transparency," said Curran.
StatPro said its plan to integrate Delta, which it acquired in May 2017, into its Revolution platform is on track.
The company is still pursuing acquisitions, having recently raised its banking facilities to around GBP49.1 million so as to, as Curran put it, "provide additional capacity for financing future acquisitions" as well as to strengthen StatPro's "long-term financial structure".
At present, the company's trading is in line with expectations.
"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," the chair said.
Shares in portfolio analysis software developer were trading 0.9% lower at 131.25 pence each.
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