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StatPro releases year-end trading update

23 January 2006  |  1285 views  |  0 Source: StatPro

StatPro Group plc, the AIM listed provider of portfolio analytics solutions for the global asset management industry, today announces that it intends to issue its preliminary results for the year ended 31 December 2005 on Monday, 20 March 2006.

As indicated in August 2005, StatPro is adopting International Financial Reporting Standards (IFRS) for 2005, two years ahead of the requirement for AIM companies. The primary standards that impact StatPro's results are as follows:

  • IFRS 3, Business combinations and IAS 36, Impairment of assets (resulting in goodwill being 'frozen' with effect from 1 January 2004 and no longer being amortised but subject to annual impairment reviews);
  • IAS 38, Intangible assets (resulting in software development costs being capitalised and amortised over the expected useful life of the development); and
  • IFRS 2, Share-based payment (resulting in costs being attributed to the value of share options issued to employees).

Year end trading update
Trading in the final quarter of 2005 continued in line with the performance indicated in the trading update issued on 24 October 2005 and in line with current market expectations. An update on current trading will be provided at the time of the preliminary results in March.

Justin Wheatley, Chief Executive, said: "StatPro performed strongly in 2005 and entered 2006 in a strong financial and market position."

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