19th Oct 2007 07:00
Statpro Group PLC19 October 2007 For release at 07.00 a.m. Friday, 19 October 2007 STATPRO GROUP PLC ("StatPro" or the "Group") Q3 Trading Update StatPro Group plc, the AIM listed provider of portfolio analytics and datasolutions for the global asset management industry, today announces a tradingupdate for the nine months ended 30 September 2007. Highlights: •trading is in line with expectations and significantly ahead of comparable period in 2006 •organic revenue growth is 19% per annum (21% at constant exchange rates) •acquisition of Initram completed in July 2007 now fully integrated •new business pipeline remains strong Further to the interim results announced on 30 July 2007, the Board is pleasedto report that trading for the first nine months of 2007 is in line withexpectations and significantly ahead of the same period in 2006. Thisperformance reflects the benefit of acquisitions in 2006 and 2007 and strongorganic revenue growth across the Group. As previously announced, StatPro acquired Initram Data Inc, a small competitorbased in Montreal, that also produces Canadian bond prices, in July 2007. TheInitram business is now fully integrated with StatPro's existing data businessbased in Montreal. With the important data clients acquired, the expertise ofthe Initram team and the increased scale, StatPro is able to offer clientsadditional services from a much broader coverage of data. The Board is continuing to invest in its product development, in particular todevelop integrated data and analytics products. StatPro Data Direct, an "ondemand" market data service, will be launched at our forthcoming user conventionin the US later this month. This service will offer valuation prices for globalequity and bond markets as well as derivatives and other complex assets. Our sales pipeline has continued to expand as new opportunities arise for ourenlarged product suite. The Board expects that StatPro should benefit from therecent events in the financial markets, in particular the credit markets, asthis should drive demand for independent evaluated prices of complex assetstogether with analysis of the associated risks. 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. Commenting Justin Wheatley, Chief Executive of StatPro Group, said:"StatPro's market position is now very strong. Our product range, businessexpertise and strong reputation give us a formidable opportunity to grow ourbusiness. We look forward to building on the successes of 2007 in the comingyears." - Ends - For further information, please contact: StatPro Group plc www.statpro.comJustin Wheatley, Chief Executive Andrew Fabian, Finance Director 020 8410 9876 Arbuthnot Securities LimitedTom Griffiths/Alasdair Younie 020 7012 2000 SmithfieldReg Hoare/Tania Wild 020 7360 4900 About StatProStatPro Group plc is a leading provider of portfolio analytics and datasolutions for the global asset management industry. Over the past 13 years,StatPro has developed its products in close collaboration with internationalasset managers and can offer sophisticated portfolio analytics tools for riskmanagement, fixed income analysis, performance measurement, attributionanalysis, GIPS compliance and reporting. StatPro has over 400 client contractsin 25 countries, with 11 offices worldwide. StatPro has grown its recurringrevenue from less than £1.0 million in 1999 to £18.8 million at 30 June 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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