12th Jul 2007 07:00
Statpro Group PLC12 July 2007 For release at 07.00 a.m. Thursday, 12 July 2007 STATPRO GROUP PLC ("StatPro" or the "Group") Half Year Trading Update Notice of results StatPro Group plc, the AIM listed provider of portfolio analytics and datasolutions for the global asset management industry, today announces a half yeartrading update for the six months ended 30 June 2007. Highlights: •trading in first half in line with expectations and significantly ahead of H1 2006 •key acquisition integration projects successfully completed •further cross-selling achieved and increase in contracted data revenue •significant increase in professional services revenue •new business pipeline at its highest ever level Further to the trading update announced on 16 May 2007 at the time of theCompany's Annual General Meeting, the Board is pleased to report that tradingfor the first half of 2007 was in line with expectations and significantly aheadof the same period in 2006, despite the continued strength of sterling. Thisperformance reflects the benefit of recent acquisitions and good organic revenuegrowth across the Group. We are also pleased to have closed a number ofsignificant contracts in the first half.Our overall sales pipeline has continued to expand as new opportunities arisefor our enlarged product suite. The average prospect case size also continues toincrease. We have made considerable progress with our integration projects for the NorthAmerican operations with several key integration projects successfullycompleted. These have resulted in: •further cross-selling achieved; •increased contracted data sales; •significantly increased professional services revenue; and •first integrated products offering on track for launch in the fourth quarter of 2007 The Board continues to look for opportunities to expand the business as a whole,whilst consolidating its strong market position as a supplier of portfolioanalytics and data solutions to the global asset management industry. We have continued to generate strong operating cash flows and as a result wehave paid down £1.0 million of debt during the first six months of 2007. Notice of results The Company expects to report its interim results for the six months ended 30June 2007 on Monday, 30 July 2007. Commenting Justin Wheatley, Chief Executive of StatPro Group, said:"We have had an excellent first half continuing our strong track record ofgrowth. This performance reflects StatPro's much improved and broadened productoffering following recent acquisitions and investments and the strongcompetitive position we have established over the past few years. "The integration of our North American operations has gone extremely well and weare now poised to benefit strongly from this investment. We therefore remainconfident of the Group continuing to achieve strong growth in line withexpectations for the year as a whole." - Ends - For further information, please contact: StatPro Group plc www.statpro.comJustin Wheatley, Chief Executive 020 8410 9876Andrew Fabian, Finance Director Arbuthnot Securities LimitedTom Griffiths/Neil Kirton 020 7012 2000 SmithfieldReg Hoare/Tania Wild 020 7360 4900 Notes to Editors: StatPro Group plc is a leading provider of portfolio analyticsand data solutions for the global asset management industry. StatPro floated onthe London Stock Exchange in May 2000 and transferred its listing in June 2003to AIM. StatPro has grown its revenue from continuing operations from £1.8million in 1999 to £14.6 million in 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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