StatPro third-quarter trading in line with expectations

Software developer and cloud-based portfolio analysis provider StatPro Group said revenue and profits for the nine months to end of September were in line with expectations.

In the 12 months to 30 September, annualised recurring revenue for the group’s portfolio analysis service segment surged 68% to £7.2m, the company said in a trading update.

The division now represent 25% of total annualised recurring revenue compared with 15% in 2014, the group added.

"We have had a good third quarter, in what is normally a quiet period, which reflects the growing momentum of StatPro Revolution,” said group chief executive Justin Wheatley.

"Our sales pipeline remains strong. We look forward to a successful outcome for the current year and the continued execution of our cloud-based strategy."

StatPro shares were up 4.12% to 79.65p at 1052 BST.