StatPro Group (SOG)

Business description

StatPro Group provides cloud-based portfolio analytics solutions to the global investment community.

Stock data

Market cap.£98.7m
Last close152.50p
High / Low (52 weeks)165.5p / 86.0p
Stock market listingLN
Forecast net debt (£m)19.7
Forecast gearing ratio (%)64
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(5.86)27.6234.96
Relative *(8.89)25.7724.75

* % Relative to local index

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Company news

StatPro continues to drive annualised recurring revenues higher

Thu, 19 Oct 2017 06:31:32 GMT

StatPro showing sure touch in acquisitions policy

Wed, 02 Aug 2017 12:19:25 GMT

StatPro Group seals £11mln earnings enhancing UBS Delta acquisition

Fri, 07 Apr 2017 06:45:47 GMT

StatPro bags three-year contract down under

Mon, 31 Jul 2017 06:58:44 GMT

StatPro trading in line; integration of UBS Delta going well

Mon, 17 Jul 2017 07:14:03 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 30.2 4.0 2.6 2.6 58.7 15.7
2016A 37.5 5.1 2.7 3.5 43.6 13.4
2017E 48.9 7.0 4.2 5.0 30.5 8.5
2018E 57.3 8.9 6.1 7.2 21.2 6.9

Last updated on 18/09/2017

Investment summary

StatPro reported healthy interims with revenue up 23%, including 2% organic growth. Annualised recurring revenue (ARR) rose by 47% to £53.2m as at 30 June, boosted by the acquisition of UBS Delta in April. Adjusted EBITDA jumped by 35% to £2.8m as the margin expanded by 120bp to 12.9%, reflecting the increased scale of the business. Momentum has continued since the H1 results, with two contract extensions – a $1m 2.5-year deal to migrate a major Singapore-based asset manager from Seven to Revolution and a two-year extension with a large European asset manager for Delta, worth £1.5m. In the latter announcement, StatPro said it was making rapid progress with its plans to reach functional parity between Delta and Revolution. We continue to see strong upside potential, given the significant valuation disparity between StatPro and its US-listed financial software peers.

Last updated on 03/10/2017

Industry outlook

StatPro's products are targeted at the global wealth management industry. The outlook for fund managers has been showing modest improvements with assets under management rising by 7% to $69.1trn in 2016, according to Boston Consulting Group. In addition, competitive, cost and regulatory pressures all require asset managers to maintain and upgrade their reporting and risk management systems.

Last updated on 03/10/2017

Key management

Justin Wheatley, CEO
Andrew Fabian , FD

Company address

StatPro House
81-87 Hartfield Road
Wimbledon
London
SW19 3TJ
United Kingdom
+44 (0)20 8410 9876
View website