StatPro Group plc, the AIM listed provider of portfolio analytics solutions for the global asset management industry, today announces a half year trading update for the six months ended 30 June 2006.
- trading in first half ahead of expectations, reflecting significant increase in new business
- two earnings enhancing acquisitions completed in the period
- new business pipeline remains at its highest ever level
Further to the trading update announced on 17 May 2006 at the time of the Company's Annual General Meeting, the Board is pleased to report that the Company has continued to perform well and that trading is ahead of its expectations for the first half of 2006.
This reflects the significant increase in the level of new business secured during the first six months of 2006 compared to the same period in 2005 and the increase in the annualised recurring value of new licences signed in the 6
months to 30 June 2006. In addition, the new business pipeline remains at the highest level it has ever been.
The acquisition of Delve Limited completed a year ago and the acquisitions of ALPHAI Pty Limited, announced in April 2006, and Kizen Pty Limited announced in May 2006, have strengthened the Group's product offering globally and are providing cross-selling opportunities. The two more recent acquisitions were successfully integrated in the period and are expected to be earnings enhancing in the Company's current financial year.
The Company paid its maiden dividend of 0.5 pence per share on 31 May 2006 in respect of its financial year ended 31 December 2005. Going forward the Directors intend to maintain a progressive dividend policy reflecting the balance between the investment needs of the business and the growth in underlying cash and earnings per share.
The Company expects to report its interim results for the six months ended 30 June 2006 on Monday, 31 July 2006.
Commenting Justin Wheatley, Chief Executive of StatPro Group, said: "We have had a strong first half continuing our excellent track record of growth. This performance reflects StatPro's much improved and broadened product offering following recent acquisitions and investments.
"We therefore remain confident of the Group achieving another year of very solid progress. The Board continues to look for opportunities to expand the business, whilst consolidating its strong market position as a supplier of portfolio analytics solutions to the global asset management industry."