StatPro’s annualised recurring revenue (ARR) rose by 37% over the 12 months to £39.3m at end-FY16, reflecting 6% constant currency organic growth, two acquisitions and translation benefits from the decline in sterling. More than 10 clients are already using Revolution Performance, the recently launched transaction-based performance measurement tool that runs off Amazon cloud. The group’s pipeline of new business is at record levels and management was increasingly optimistic at the results meeting. Hence, following the recent dip, we believe that the shares are looking more compelling as the group continues to set the pace in the cloud.

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