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Published on: March 15, 2018

A solid start to 2018

StatPro has reported FY 2017 revenues and Adjusted EBITDA in line with expectations reflecting solid growth from Revolution and a positive EBITDA contribution from Delta. Reported revenue increased by 26% at constant currency rates (CCR), adjusted EBITDA was up 24% while adjusted EPS grew by 74%. The dividend is maintained at 2.9p. Group Annualised Recurring Revenue (ARR) increased by 35% to £53.04 million. The acquisition of UBS Delta in April 2017 was a key feature of the year and its integration into Revolution continues. The announcement flags a restructuring of the business in 2019 into three divisions to allow management focus on the specific growth opportunities in the business lines. CEO Justin Wheatley says that StatPro ended 2017 strongly and that the Group expects to see further organic revenue and profit growth in 2018. StatPro has started the current financial year in line with management expectations. We make minor adjustments to our FY 2018E estimates and introduce FY 2019E numbers.

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