StatPro half-year recurring revenues soar 26%
Updated : 10:34
Investment software maker StatPro Group said half year annualised recurring revenues (ARR) rose 26% to £36.2m
"Our forward order book continues to grow and we are trading in line with our expectations for the year as a whole,” the company said in a trading statement.
ARR from its cloud based services soared by112% to £13.7m. Revenue for StatPro's forward order book increased by 19% to £44.1m.
The company said there had been a “significant positive impact” of £3m on group ARR due to the weakness in the pound, as only 15% of the group's ARR is denominated in GBP.
Net debt at 30 June 2016 was approximately £9.1m and the the group has a total committed facility of approximately £17.3m and an additional uncommitted facility of around £7.5m.
StatPro said it expects to book a one-off £1.5m exceptional charges for the half relating to one-off costs related to the acquisition of Investor Analytics and the restructuring of the group's Paris office.