24th Oct 2005 07:00
Statpro Group PLC24 October 2005 For release at 07.00am Monday, 24 October 2005 STATPRO GROUP PLC ("StatPro", the "Group", or the "Company") Trading Update StatPro Group plc, the AIM listed provider of portfolio analytics solutions forthe global asset management industry, today provides an update on its tradingfor the third quarter of 2005, reflecting a strong performance in what istypically the Group's quietest quarter. The Board is pleased to confirm that the level of new licence agreements signedby the Group in the third quarter has been much stronger than the comparableperiod for 2004. Revenue for the nine months to the end of September has been20% higher than over the comparable period in 2004, and at over twice the rateof revenue growth achieved in 2004 as a whole. Based on the current market outlook, the good visibility of potential contractawards expected in the fourth quarter, and our recurring revenue model, revenuegrowth is expected to be twice that achieved in 2004. Overall, trading remainsin line with our expectations for the year as whole. The integration of Delve following the acquisition on 1 July 2005 has beencompleted with the operations now fully integrated into our London office. Weare now marketing the acquired product as StatPro Enterprise Reporting and havesince signed two new clients for this solution in the three month period sinceacquisition. The final beta testing of the StatPro Fixed Income product is proceedingsatisfactorily and we expect to launch the product formally in January 2006. StatPro continues to have excellent prospects based on a growing range ofproducts, an expanding client base and an encouraging new business pipeline. Weexpect continued cash generation in 2005, enabling us to continue our investmentin growth opportunities as well as to pay a maiden dividend for the year. Justin Wheatley, Chief Executive, commenting on the trading update, said: "StatPro continues to perform strongly in 2005 and we look forward to makingfurther progress in the final quarter of the year." - Ends - For further information, please contact: StatPro Group plc www.statpro.comJustin Wheatley, Chief ExecutiveAndrew Fabian, Finance Director 020 8410 9876 SmithfieldReg Hoare/Sara Musgrave 020 7360 4900 Corporate Synergy PlcJustin Lewis/Rhod Cruwys 020 7448 4400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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