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Published on: May 20, 2015

AGM statement notes in-line Q1 trading

The outlook commentary with FY14 results in March stated that the current financial year had begun well. Today’s AGM statement confirms this trend, with Q1 trading in line with management expectations. StatPro’s last financial year saw StatPro Revolution annualised recurring revenues increase significantly; the AGM statement notes that this flagship product continued to progress well in Q1 15, with further business signed for both existing and new clients. Currently, 20% of StatPro’s annualised contracted revenue is sourced from cloud services, and the statement looks to the business to make ‘further headway in the rest of this year’ as the group continues its journey towards becoming a pure cloud-based analytics service provider. Meanwhile, the business continues to retain stable levels of recurring revenue from StatPro Seven clients, with net new sales offsetting cancellations. We leave estimates unchanged.

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