18th May 2005 07:00
Statpro Group PLC18 May 2005 For Release at 07.00 Wednesday, 18 May 2005 STATPRO GROUP PLC ("StatPro" or the "Group") AGM Statement and Trading Update At its Annual General Meeting to be held later today, Carl Bacon, Chairman ofStatPro Group plc, a leading AIM listed provider of portfolio analyticssolutions for the global asset management industry, will make the followingremarks on the Group's continued progress: Highlights: • Trading for the first four months of the current financial year has started satisfactorily and revenue is currently 18% ahead of the comparable period for 2004 • The annualised value of new licences signed in the first four months is significantly ahead of the level achieved in the comparative period last year and the pipeline remains encouraging • We now have 19 signed contracts for our StatPro Risk Management solution, up from 15 at the start of the year "During the first four months of 2005 we have achieved a marked improvement inthe level of new business and the sales outlook continues to be encouraging. OurEuropean markets remain the strongest source of new business with approximately60% by value of new contracts from this region. New business has also beenachieved in other markets albeit in the UK and the US the conversion ofprospects to signed contracts remains slow." "As indicated at the time of the Group's preliminary results in February, theBoard anticipates another year of strong operating cash generation, and is thusconsidering the payment of a maiden dividend for the current financial year. Aresolution to reduce the share premium account is being proposed at this AnnualGeneral Meeting, and if approved, it is our intention to apply to the Court toreduce the Company's share premium account and eliminate the deficit on theprofit and loss account so as to enable the payment of dividends in the future." "As announced on 29 April 2005, the Company has made proposals to holders ofunlisted warrants with the intention of simplifying the Company's capitalstructure. The results of those proposals, which close at 3 p.m. today, will beannounced at the AGM this evening and released to the market overnight." - Ends - For further information, please contact: StatPro Group plcJustin Wheatley, Chief Executive (020) 8410 9876Andrew Fabian, Finance Director Corporate SynergyJustin Lewis 020 7626 2244 SmithfieldReg Hoare/ Sara Musgrave 020 7360 4900 Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticssolutions for the global asset management industry. StatPro floated on theLondon Stock Exchange in May 2000 and transferred its listing in June 2003 toAIM. StatPro has grown its revenue from continuing operations from £1.8 millionin 1999 to £9.1 million in 2004. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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