StatPro says revenue, profits in-line for FY views

StatPro Group said, in a trading update for the nine months to Sept. 30, that revenue and profits continue to be in line with directors' views for the year.

"In the 12 months to 30 September 2016, Annualised Recurring Revenue (ARR) for StatPro Revolution grew by 81% to £14.7m (September 2015: £8.2m at constant currency), including the contribution from Investor Analytics' cloud-based risk service, acquired in January 2016.

StatPro Revolution as a percentage of Group ARR increased to 39% (September 2015: 25% at constant currency).

StatPro successfully launched the major expansion of its Revolution platform with the cloud-based performance measurement service, StatPro Revolution Performance, in September.

CEO Justin Wheatley commented:

"Although StatPro Revolution Performance was only released on 28 September, one of our beta clients, National Australia Bank, has already gone live with eight of its clients on the platform.

"We are delighted by the reception that Revolution Performance has received from clients, prospects and industry specialists following its recent launch and subsequent marketing events around the world."